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Financial regulations and wobbly euro trigger 'uncertainty', say lawyers
Legal professionals working in the financial sector cite uncertainty triggered by regulatory changes and instability of the euro as their biggest challenges.
The high court decision entails payouts of between €150,000 and €230,000 to individuals who worked under discriminatory contracts.
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Speaking at a forum this week hosted by DMJ Recruitment and London law firm Macfarlanes, lawyers blamed legislative amendments for causing widespread confusion, with the Alternative Investment Fund Managers Directive (AIFMD) singled out as a main source of uncertainty.
Beatriz Meldrum, general counsel at London-headquartered fund Edoma Partners, told the meeting: ‘We know where the flags are but don’t have the answers. Ultimately investors may end up picking up the costs.’
The future of the euro was also a cause from concern, with Ms Meldrum saying: ‘It is the uncertainty that is killing us.’
