WMA calls for 'lighter touch' European Union after era of record regulation

The Wealth Management Association (WMA) has called for a ‘lighter touch' approach to industry regulation as key EU committees face a post-election shake-up.

European elections were held from 22-25 May to elect 751 MEPs for the next five-year term of the European Parliament, which will run from 2014-2019. Following the elections, there will now be further internal decisions over presidency and chairmanship of its 20 committees. The Economic and Monetary Affairs Committee (Econ) is the committee responsible for financial services issues and is currently headed by UK MEP Liberal Democrat Sharon Bowles, who is not standing for re-election. The new leader of the committee will be decided at the start of July. Other relevant committees inc...