Thinktank calls for EU asset manager regulation shake-up

Thinktank New City Initiative (NCI) is calling for investment firms that only market their products in one country to be exempt from European regulation, such as AIFMD and MiFID II.

In a new report with fellow thinktank Open Europe, entitled Asset Management in Europe – The Case For Reform, the body discusses targeted EU regulation for asset managers. One recommendation affects EU-based fund managers not doing business with the rest of the EU, which NCI believes should be exempt from wider European regulations. The report states: "These fund managers take no advantage from what is arguably the most beneficial aspect of EU financial regulation. Therefore, it makes sense not to burden them with the higher compliance costs of EU rules." It suggested amending the ...