The Financial Services Authority has criticised the European Commission's proposed new rules on high frequency trading, saying that they put an unnecessary burden on Europe's national regulators, who lack the resources and experience to properly police the practice.

Speaking at the WBR TradeTech conference in London yesterday, Tim Rowe, a manager for trading platforms and settlement policy in the FSA's markets division, said that the resources available to European watchdogs made the Commission's proposals on high frequency trading unfeasible.