The following article is very sad reading for those of us who like Building Societies and want a thriving mutual sector . The European Union (EU) is at it again creating one size fits all regulations which do not fit in with British differences. I am concerned that there will be a decline in competition as smaller building societies decide to either merge because of the BASEL III regulations or demutualise to become small banks which will likely be taken over. As an Independent Financial Advisor who is also a qualified mortgage broker in London this potential contraction in competition is likely to be negative for my future clients. What a pity the British Government permits this!rnrnThis information is intended to provide a general review of certain topics and its purpose is to inform but not to recommend or support any specific investment or course of action. The tips may not apply, or be suitable, to everyone and you should contact us for advice if you are unsure whether this is the case.rn