Financial services regulation 'the last resort'

Chris Cummings, director general of AIFA, has responded to the European Commission’s green paper on financial services, which proposes a single European market. The Association of Finance Brokers (AFB) has also responded to the paper, raising concerns over the regulatory future of the secured loans market. The AIFA calls the commission to carry out an independent cost-benefit analysis before introducing any directives. AIFA also says consumers’ needs should come first in any moves to standardise products. AIFA also says the commission must evaluate consumers’ desires to use cross-bo...