NU Online News Service Aug. 17, 3:55 p.m. EDT
Conglomerates involved in both the banking and insurance sectors could see stricter regulations in European Union member states, possibly by next year, if a European Commission proposal takes effect, the Commission said.
In light of the financial crisis, the Commission said in an announcement, the effectiveness of the 2008 Financial Conglomerates Directive was reevaluated. The Commission said it found that supplementary supervision, as stipulated in the Directive, could not be carried out on certain financial groups because of their legal structure.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
