FINANCIAL CONGLOMERATES
March 1st, 2002
BY KEITH NUTHALLEUROPEAN Union ministers and MEP's are considering changes to the EU's directive on the supervision of financial conglomerates, which, claim parliamentarians, will make an Enron-style scandal far less likely in Europe. The proposed new law would cover insurance companies, investment firms and credit institutions that are part of such groups, setting rules on the amount of supplementary capital that they should command. Welcoming the proposals, the European Parliament's has approved the reforms, including a planned ban on the multiple gearing of ...
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