EU regulator defends extraterritorial laws

A senior European regulator has argued that extraterritorial rules are justified despite their impact on other markets, during a recent visit to Hong Kong. Such regulations exist due to the simple fact that markets are increasingly interconnected, says Steven Maijoor, chairman of the European Securities and Markets Authority (Esma). “When we regulate European markets, we say to third countries that you can still be active in Europe. But when you do that, you need to comply with …