May 22: Noël Amenc on what is wrong with regulation proposals

Noël Amenc, professor of finance at Edhec Business School, on what is wrong with current proposals to tighten regulations. He says regulators were wrong to use an open-end fund framework, like Ucits, for funds trading in illiquid assets. He lambasts current EU proposals as protectionist and failing to adequately address the issue of illiquid assets.