EUROPEAN COMMISSION MERGERS ACQUISITIONS SUPERVISORY APPROVALS REFORM
March 1st, 2006
BY KEITH NUTHALL
ACCOUNTING firms working in the banking, insurance and securities sectors have been asked how European Union (EU) rules controlling mergers and acquisitions in these financial industries might be improved. The European Commission says national regulators have inconsistently implemented a rule allowing them to block takeovers and alliances if they consider a target company's "sound and prudential management" at risk. EU internal market Commissioner Charlie McCreevy said: "Europe's financial companies need to be able to compete ...
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