EU capital markets plan lacks investor protection: UK official

London

THE European Union's plans to boost market-based financing for its flagging economy risk harming consumers unless there is more emphasis on investor protection, Britain's top markets regulator said on Monday.

The 28-country bloc wants to create a capital markets union (CMU) that makes it easier for companies to raise funds on stock and bond markets rather than rely mostly on bank lending, as many companies in Europe still do at present.