EC asset management chief: funds industry needs binding rules

The EC's head of asset management is a man on a mission. Improving the clarity and efficiency of European funds legislation is in his sights. Tilman Lueder talks about his plans for the future and lessons learnt from the past

The funds industry in Europe may be governed by the same set of guidelines, but national law can drastically deviate from European directives, creating a patchwork of regulatory regimes across the continent. This needs to change, says Tilman Lueder, head of the asset management unit at the European Commission (EC).

Lueder believes European legislation should be clear and flexible - but should also be binding for all member states, reducing the scope for national authorities to make changes. He