Competition in Europe

Another year and the asset managers line up to take a high dive into the morass that is pan-European fund distribution. Luxembourg is the undisputed centre of cross-border funds in the EU and has striven valiantly to keep that position in the face of mounting competition and a blizzard of EU Directives. The role of the EU Commission has been an interesting one as these developments have happened. It is keen to remove all barriers to a free and fair pan-European single market of not just funds but also every other aspect of financial services: insurance, banking, pensions. But the wheels o...