The director of markets at the UK's Financial Services Authority has moved to allay fears that Europe's new super regulator, of which he is also a board member, will not be ready to tackle a slew of new regulatory projects due to a lack of resources.

Speaking at a conference held by financial information provider Markit last week, Alexander Justham, director of markets at the Financial Services Authority and a director on the board of the European Securities and Markets Authority, assured delegates that the pan-European watchdog will be able to take on the task of drafting the detailed technical elements of new regulatory initiatives being drawn up in Brussels.