EU directives may hold back wealth industry

With global regulation on the rise, the wealth management industry is facing a number of challenges that could impact its future. This is the view held by Angela Knight, chief executive of the Association of Private Client Investment Managers and Stockbrokers (APCIMS). She argued: "Although the future of the industry looks good, two new directives, the Market Financial Instruments Directive (MiFID) and the Capital Requirements Directive (CRD) are going to present the industry with challenges." She said MiFID, which was designed to bring down barriers and costs for cross-border trad...