FINANCIAL CONGLOMERATES

BY KEITH NUTHALLNEW rules affecting the operations and supervision of multi-national groups of companies in the EU will come into force shortly following agreement by the European Parliament today (Wednesday) of the Financial Conglomerates Directive; MEP's accepted the latest draft approved by EU ministers, clearing the last hurdle preventing it becoming European law.Among other things the legislation will prevent the multiple gearing of capital in different entities in the same conglomerate.It will ensure an "appropriate" concentration of risk at group level, ...


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