FSA: Niche lending threatened by EC Directive

Speaking at the MICE CML conference, Sheila Nicoll, director of conduct policy, at the CML said some aspects of the Commission's proposal have caused concern among stakeholders and the UK regulator. "As originally drafted, it captures a number of areas of lending that we would classify as niche," she said. "These are areas that require a tailored approach that recognises their different characteristics. Given that cross-border sales in these types of lending is unlikely, we think it more proportionate to let member states deal with them at the national level." Nicoll failed to offe...