TRANSLATION DELAYS
May 1st, 2004
BY KEITH NUTHALLTHE EUROPEAN Union (EU) has admitted that translation difficulties caused by May 1's accession of 10 new member countries is already slowing the adoption of important financial legislation, with the EU Council of Ministers accepting a six month delay for two accounting-related directives. These are the transparency directive, on information requirements for securities issuers, and a regulatory package extending the committee structure regulating the securities sector since 2002 to banking, insurance and investment funds (UCITS). Instead of coming ...
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