Financial Services partner Neil Robson was quoted in an article on how the EU is attempting to open up capital markets to non-banking institutions, especially through its Capital Markets Union project. In order for this project to work, the European Securities and Markets Authority (ESMA) insists that additional clout for itself and other regulators is necessary. "[ESMA] has been trying to claim more powers for the last few years and trying to get control of things national regulators do," Robson told Alt Credit Intelligence. He added that it makes sense for pro-EU hedge funds to have a pan-European regulator that dictates to each country what will happen. "If you are more Eurosceptic then taking power away from each country reduces the ability to control your own capital markets. In this scenario the UK would have little control over its own capital markets," Robson said. ("Is Fortress Europe Set To Open Up For Credit Managers?," June 2015)
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