Globally the financial services industry is going through a regulatory shake up, according to many of the expert speakers at the Association of the Luxembourg Fund Industry spring conference last week.
The industry is experiencing an avalanche of regulatory acronyms from: UCITS IV and V, MiFID (Markets in Financial Instruments Directive) II, AIFMD (Alternative Investment Fund Managers Directive), KIID (Key Investor Information Document), Solvency II, FATCA (Foreign Account Tax Compliance Act), PRIPS (Packaged Retail Investment Products) and IMD (Insurance Mediation Directive) are just some of the 25 new regulations either coming in to force or being discussed by international financial regulators.
Investor protection is at the centre of this growing number of regulations. The theme of the conference, which was attended by 830 delegates, was: better regulation, clearer information and more protection.
Marc Saluzzi from PwC speaking at the conference
Marc Saluzzi, partner and financial services leader for PwC in...