In our annual opening meeting at the Financial Services Club David Doyle, Policy Adviser on all matters to do with EU Regulations, gave us a swift canter through the key headlines in European financial markets focus for 2015.
These included the guiding principles that:
- All that is of systemic importance should be regulated and supervised
- To restore trust, investors and consumers should encounter clearer, more coherent and more effective safeguards
- Supervisory bodies should have the right tools to grasp the complex, interconnected and globalised financial nature of activities
- There is a need for a better capitalised finance industry with less leverage
- Perverse incentives in the financial sector should be tackled and reduced