Home > Regulation > Regulators
Gov't 'lacks interest' in EU regulation debate
Lack of engagement by the UK government could mean UK interests are swept aside with the introduction of EU financial regulation, a House of Lords report has claimed.
Mr Strange said legislation was already being introduced as a result of the de Larosiere report and harmonisation was inevitable. However he raised concern that any Europe-wide regulation would affect other financial services providers as well as banks.
Heidi Ashley, a spokesman for the FSA said the regulator was unable to comment on the report. She said: "We have set out the position as we see it in the Turner Review and a discussion paper that accompanies that. The consultation period closes at the end of this week."
The Association of British Insurers said it had agreed with many of the de Larosiere proposals but said that any regulatory response must not be rushed and needed to be targeted.