Regulatory plans from EU met with dismay

The investment communities of eight EU countries have urged the European Commission to rethink its plans to increase the amount of regulatory capital firms for investment firms, as non-banks will have big increases to their operating costs and the investor will suffer. According to the Association of Private Client Investment Managers and Stockbrokers, the proposed Risk-Based Capital Directive seeks to apply the so-called Basel rules devised for large international banks to Europe's financial services industry. For more information see www.apcims.co.uk