Excessive regulation in the EU is handing an unfair advantage to large US firms and is in danger of driving smaller European managers “into a wall”. This is the view of Hughes Beuzelin, chief executive of French fund manager BDL Capital Management. According to Beuzelin, the excessive bureaucracy of the EU has hindered European markets and indirectly led to the rise of passive investing and index-tracking. Beuzelin has called on European regulators to ease the regulatory burden for companies listing in Europe. The French fund manager’s comments come at a time of historically high tension between Europe and the US, politically, financially and even militarily.