FSA pushes consumer focused Euro directives

Growing the cross border retail business in Europe can only be successful if the consumer credit directive is formulated from a consumer's perspective and not from the point of view of a "tidy minded legislator", said the FSA chairman Howard Davies yesterday while speaking at a conference on the direction of European financial regulation at the Guildhall in London. Speaking about the current development of the consumer credit directive, which would impose standardised requirements on disclosure of information to consumers across Europe, Davies said he doubted whether this initiative wo...