EU Committee looks at regulatory framework: The House of Lords EU Committee has published a report on the post-crisis EU financial regulatory framework. It concludes the EU institutions have done well, given the scale of the crisis, but noted some weaknesses. It criticised the standards of consultation and impact assessments. It also noted the European Supervisory Authorities have done good work but are under-resourced and lack independence and influence. Legislation the Committee felt suffered because of political pressures was the Alternative Investment Fund Managers Directive (AIFMD), the bank remuneration requirements in the Capital Requirements Directive (CRD4) and the proposals for a Financial Transaction Tax. It commented the UK would have implemented many of the proposals, even if the EU had not required it to. (Source: EU Committee Looks at Regulatory Framework)