A trio of Europe's biggest buyside institutions – with more than €2.6 trillion in combined assets – have called on regulators to address “alarming” distortions in competition caused by different national interpretations of post-crisis reforms, which they argue has stymied their industry's ability to compete on the global stage.

The responses - from Amundi, Legal & General and AXA Investment Managers - were among several published on the European Commission's website on February 10 as part of its wholesale review of post-crisis financial regulation, launched in September 2015 by the EU financial services commissioner Lord Jonathan Hill.