Are the regulators completely out of control?

We would love to hear from any real end investor private saver who thinks he is (1) able to explain what the various versions of UCITS investment regulations mean or (2) what benefit he has personally derived from this legislation. We suspect it is easier to win the Euromillions lottery than to find this person, especially as we just notice that the 'legislators' in the various European capitals - and in particular the pampered species in Brussels - are already beavering away at drawing up plans for UCITS version number 5 (when even market professionals have difficulty understanding, let alone implementing version number 4). All this nonsense means that costs will be piled on costs and the hapless investor must be even more careful when deciding how to invest his precious nestegg.