I think the UK is being a subservient to an EU Banking Regulator. Our economy is very different from most continental countries in that the UK tax advantages of home ownership mean we have a much higher percentage of owner occupiers with mortgages, because we do not have to pay capital gains tax on our nominated principle private residence and we do not have to pay imputed rents tax. Changes to regulations which are good for France and Germany would probably be very adverse for the UK. I have also read that the equivalent of Independent Financial Advisors in other EU member states are significantly different from the UK and if regulations were harmonised would be very adverse to our industry. What a pity the whole financial services sector does not stand up and say no to all of 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.