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Financial regulation that is too much driven by political considerations is not the right way to go, says Jean Guill at the Alfi Global Distribution Conference in association with NICSA the Hong Kong IFA in Luxembourg. The head of the Luxembourg financial supervisory authority, CSSF, understands the political backlash following the financial crisis, but is against overreacting and regulating everything straight away. Jean Guill says it is obvious that part of the legislation introduced by directives such as the Alternative Investment Fund Managers Directive (AIFMD) and the latest Directive on Undertakings for Collective Investment in Transferable Securities (UCITS) is due to the Madoff affair. Before that scandal erupted, he had had doubts about the clarity of the...
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