FINANCIAL CONGLOMERATES
September 1st, 2002
Keith Nuthall
EUROPEAN Union ministers have approved in principle reforms to EU regulations on financial conglomerates, aimed at avoiding an Enron-style scandal in Europe. They have approved the creation of national regulators whose job is to supervise conglomerates and help improve the flow of information about their accounts. The changes also insist on healthy management standards and impose rules on calculating group-wide solvency.
EUROPEAN Union ministers have approved in principle reforms to EU regulations on financial conglomerates, aimed at avoiding an Enron-style scandal in Europe. They have approved the creation of national regulators whose job is to supervise conglomerates and help improve the flow of information about their accounts. The changes also insist on healthy management standards and impose rules on calculating group-wide solvency.
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