Europe’s proposed new financial regulations have been branded “ill thought-out” and risk “serious consequences” for the region’s shipping markets, an influential voice has warned.
Baltic Exchange chairman Guy Campbell says unless the current draft European legislation is reformed there will be unintended damage to shipping and freight derivatives markets.
“We are working hard to challenge what we believe is an ill thought-out regulation that fails to respect the realities of our business,” he told guests at the Baltic chairman’s annual cocktail reception in London last week (see photos pages 78 and 79).
