Levene fears EU regulation

Lloyd’s of London Chairman Peter Levene has demanded that the UK defend its own regulation of financial companies against and EU-wide super-regulator, Bloomberg reports

“In the UK, we’ve been well in the lead in Europe and we’re not going to throw that away,” he said in an interview on Bloomberg Television.

In Europe, “we should have a regulator who is an overseer to make sure everyone is pulling to a general policy. But let the details of regulation in each country of Europe be worked out as they suit that market.”

“Different countries operate in different ways,” Levene said. “You need harmonious regulation. But you need to have it adapted to local requirements.”