Sometimes it is so evident that many do not know what the European Union is all about, and that despite its shortcomings it has created increased competition in industries that were otherwise quite stale and closed. This post "Both companies have websites, where you will find that Blevins is regulated only by the UK's FSA, (irrelevant in France), and the Maltese authorities; while Siddalls is regulated by the FSA in the UK,and both the relevant french bodies. I have always found Siddalls very efficient and friendly" really says it all. For a good couple of years the EU has put in place the possibility of “passporting” financial services which had the objective of allowing a financial provider to be able to provide his services in other EU countries with the aim of increasing competition for the benefit of consumers. The following is an extract from the FSA regulations about passporting: Any UK firm which wishes to carry on business in another EEA State may do so if it is within the scope of a relevant EU Single Market Directive. This is referred to in FSMA as an EEA right, and the exercise of such rights is known as 'passporting'.