The Law Society has responded to the European Commission’s call for evidence on the EU Regulatory Framework for Financial Services.
In this call for evidence, the Commission was looking for empirical evidence and concrete feedback on:
- rules affecting the ability of the economy to finance itself and growth
- unnecessary regulatory burdens
- interactions, inconsistencies and gaps
- rules giving rise to unintended consequences
It is expected that the outcome of this consultation will provide a clearer understanding of the interaction between the individual rules and cumulative impact of the legislation as a whole, including potential overlaps, inconsistencies and gaps.
Our response was drafted by the Financial Services sub-committee and the Company Law Committee.