Brokers' regulatory burden bigger than tax - BIBA

The warning comes as the body campaigns for a more appropriate and cost effective regulatory regime to be implemented with the introduction of the Financial Conduct Authority (FCA). It follows research from BIBA which criticised the current regime as "disproportionate and inappropriate" as costs for brokers in the UK were three times higher than the next most expensive EU state. Eric Galbraith, chief executive of BIBA repeated his call for the government to ensure the FSA's replacement puts the right regulation in place. "We have succeeded in persuading the policymakers that the in...