Morrison & Foerster partner Peter Green argues that despite soothing words from Michel Barnier, the EU's internal-market commissioner, the City of London remains concerned about the onslaught of regulations. Green says Barnier's words have not had their desired effect, particularly in relation to the Corporate Regulation Directive proposals, known as CRD4. "A more rigorous analysis of the impact of the CRD4 proposals is needed. The UK's banks, regulators and companies depend on it," Green writes. "Sadly, for all Mr Barnier's best intentions, expect a bumpy ride ahead."

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