Whether the Act is complied with is for computers to determine." If only he had known what was to come! The EU rules regulating the financial sector are complex. The three large sets of rules alone run into more than 1,100 pages in Danish. The rules are so extensive because they need to regulate firms with very complex activities.
Moreover, if something goes wrong, the costs to society are considerable. The legislation is also extensive because it must take into account the structures and traditions of many countries. The Danish mortgage credit sector, for one, has benefited from that. If you wish to be part of an international market, it is a huge advantage to operate under a single set of rules.