Regulatory burden to cost €33bn

The cost of complying with new EU regulatory requirements will cost the financial services sector up to €33bn (£26.5bn) over the next three years, according to new research from a think tank. JWG’s second quarter report says the financial services industry has assigned €33.3bn to improve their regulatory reporting capabilities by 2015. The think tank also warns costs could hit £50bn unless “fundamental policy reorientation” is considered.