Europe, Middle East & Africa: Agree to disagree

Author: | Published: 26 May 2017

As financial institutions tackle their never ending to-do lists of regulation readiness, the realisation that much of the EU's incoming legislation will affect far more parts of the business than originally thought is crystallising.

The extraterritorial reach of these rules, from the much derided Markets in Financial Instruments Directive II to the packaged retail and insurance based investment products regulation, is concerning firms. What was initially thought to be fairly contained in the EU will affect staff from all over the world, many in ways still unknown. The market is sympathetic to it; it would be counterintuitive to draft rules in one...