Brexit will make 'little difference' to volume of financial regulation

Out campaigners living in 'cloud cuckoo land'

An exit from the European Union would not reduce the volume of regulation imposed on UK financial services, according to former MEP Sharon Bowles.

Speaking at the Wealth Management Association Summit in London, Bowles (pictured) gave her view on the Brexit debate, citing her experience as a member of the European Parliament between 2006 and 2014. She said people expecting the volume of financial services legislation from the EU to decrease in the event of a Brexit are living "in cloud cuckoo land". CBI: Brexit would have serious downsides for the UK The industry has regularly criticised the amount of legislation, such as MiFID II, AIFMD and PRIPS, to which the UK is subject, and some are hopeful this will be reduced. It is...