News Item
Compliance Week: "Will Europe go it alone on financial regulation following Brexit? Don’t count on it"
. . . the single biggest obstacle to fundamental change to EU financial regulations is the simple fact that it may not be necessary, explains Professor John James, chairman of the Center for Global Governance, Reporting, and Regulation at Pace University in New York City.
“I would be more interested in the why,” he says. “Is it to tighten up the enforcement procedures? Because they’re still pretty light compared to some of the member states. Why would they want to change it, to go away from the U.K. and U.S.? This could be another area of government reacting against the EU establishment. In other words, the populist bug has gone from the population to the local government and from the local government to the EU overseers, but we’ll have to wait and see.”
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