EC asset management chief: funds industry needs binding rules

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The funds industry in Europe may be governed by the same set of guidelines, but national law can drastically deviate from European directives, creating a patchwork of regulatory regimes across the continent. This needs to change, says Tilman Lueder, head of the asset management unit at the European Commission (EC).

Lueder believes European legislation should be clear and flexible - but should also be binding for all member states, reducing the scope for national authorities to make changes. He

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