Do you want your financial products regulated by the EU?
As the EU regulator continues to grow in power there are fears across Europe, and more prominently in the UK, that the EU regulatory framework is expanding and will soon become all-encompassing across Europe. As a consequence, many consumers in the UK are seriously concerned that all financial products in the future will in some way be regulated by the EU. Will this ever happen?
For those who are anti-Europe, for whatever reason, the news is not good as ultimately vast areas of the UK financial markets are already regulated to a certain extent by the EU. There have been dozens of directives over the last couple of years which have ultimately added another layer of regulations to various financial instruments and financial services. As countries such as the UK signed up to the EU treaty, even though it has not been fully ratified as yet, the power of the EU is set to grow and grow.
Many people would be surprised at the level of EU regulations already in the UK as they have been brought in very quietly and remain fairly unnoticed. However, there are very few areas of the UK economy which are not directly or indirectly influenced by the EU, no matter what many of the UK public believe and would prefer to see.
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