All financial institutions are coping with a seemingly never ending deluge of regulation, most of which is driven from the European Commission. Not surprisingly, one reaction from those engaged in the financial industry in the UK to the question "Would we like a regulatory brake?" is likely "yes" and an intuitive consequential reaction may then be to support an "out" vote. It is unlikely however to be that simple. An "out" vote is unlikely to solve those who perceive an over regulation - or complication of regulation - of financial services in the UK.