Comment: Just a few weeks in, and…

So, we’re a few weeks into the brave new regulatory world, and already we are seeing the first examples of politico-regulatory “told you so”. Liberal Democrat MEP and Economic and Monetary Affairs committee chair Sharon Bowles has fired a salvo against the banks suggesting their adviser charges are a “rip-off”. She argues the arrival of the Retail Distribution Review (RDR) has created a system so complicated that the commission option would be easier for consumers to understand. As a result, it is her intention to seek an EU-wide cap on advice fees within current MiFID II talks. Lloyd...