City Groups Join Forces to Influence EU Rules

An article in today's FT says a group of 11 leading trade associations has launched a bold move to influence the interpretation of imminent European Union financial markets legislation amid fears UK regulators could take an overly stringent approach. They say that bodies party to the highly unusual co-operative effort include The Association of British Insurers, The British Bankers' Association, the Investment Management Association and the London Investment Banking Association. The venture underlines concerns about the implications of MiFID, which takes effect in November 2007.