Navigating this wonderful world of regulation

Hello,

I am in search of a little insight with regards to a new business venture, and navigating through some regulations.

Basically I worked developing CDOs and other weird and wonderful things. Any ways I have reached a point where I want to go on my own. I have devised a business plan, models etc for a my proposed firm which would sell Synthetic CDOs which we design and construct to commercial companies.

This is all well and good, however as my job was making numbers work and feeding them to traders, I never had any professional financial qualifications, I have a degree in Math that has served me well along with far too many years experience, and now I need to get authorisation from a financial regulator in Europe or if possible elsewhere to sell these products in Europe and the US.

The UK at the moment where I have worked for years has gone crazy with regulation and you can't file a paper without five compliance staff checking. I am not sure about the US.

Obviously I will be getting professional advice and employing people to take care of the regulatory work but I would like to have some idea to present to them.

Others have suggested the Caymans and Cyprus, what to you guys think?

As you can tell, I am not a compliance office, so be kind - self regulation as not so bad