Financial Regulatory Forum

EU aims to make class action lawsuits easier- draft

By Foo Yun Chee
BRUSSELS, Oct 1 (Reuters) – Consumers who suffer at the hands of companies that fix prices or abuse their dominant market position could soon find it easier to launch class action lawsuits to seek compensation, according to a proposed EU directive.

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London Stock Exchange to quit pan-European lobby

LSE/CEO LONDON, Sept 30 (Reuters) – The London Stock Exchange is quitting the industry’s main European association as it seeks a free hand to lobby regulators mulling a crackdown on off-exchange trading at banks and dark pools. (more…)

European Central Bank says will combine tests to get financial pulse

By John O’Donnell
GOTHENBURG, Sweden, Sept 30 (Reuters) – The European Central Bank will combine future tests to check the health of the financial system, its vice president said, outlining his vision for a new watchdog to prevent further crises.

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EU’s Kroes says Lloyds bank needs to shrink presence

BRUSSELS, Sept 29 (Reuters) – Partially-nationalised British
bank Lloyds needs to shrink its activities in areas
where it is currently dominant to compensate for taking billions
of pounds in state aid, the European Union’s antitrust chief
said.

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EU unveils blueprint to overhaul policing of banks

European Commissioner in charge of Internal Market and Services Charlie McCreevy speaks during a news conference at EC Headquarters in Brussels September 23, 2009. The European Union unveiled its blueprint on Wednesday for an overhaul of the way banks and financial markets are policed, a central plank to new rules designed to prevent a repeat of the global economic crisis.  REUTERS/Sebastien Pirlet   (BELGIUM POLITICS BUSINESS) By John O’Donnell

BRUSSELS, Sept 23 (Reuters) – The European Union unveiled its blueprint for an overhaul of the way banks and financial markets are policed, a central plank in new rules designed to prevent a repeat of the global economic crisis. It plans to create a banking super-watchdog, with power to overrule countries such as Britain, and a pan-European supervisor that would warn of early signs of crisis.

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Cautious China backs G20 coordination; EU proposes bank rules

President of the European Commission Jose Manuel Barosso speaks during a news conference in Warsaw April 30, 2009. By Simon Rabinovitch and John O’Donnell
BEIJING/BRUSSELS, Sept 23 (Reuters) – China offered some support on Wednesday to U.S. plans to build a more balanced global economy, as world leaders seek to agree ways to nurture a tentative recovery and prevent future crises.
The European Union unveiled its blueprint for an overhaul of the way banks and financial markets are policed, with plans for a banking super-watchdog and a pan-European supervisor that it hopes can be replicated on the global stage.

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EU report slams banks over opaque fees, bad advice

European Commissioner for Consumer Affairs Meglena Kuneva arrives at a meeting of the European Liberal Democrat and Reform party ahead of a EU leaders summit in Brussels June 19, 2008. By Marcin Grajewski
BRUSSELS, Sept 22 (Reuters) – Many banks in the European Union confuse customers with opaque fees, unsuitable advice and difficult procedures, the EU’s executive arm said on Tuesday.

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EU sets Oct. 2 deadline for ABN remedy talks

AMSTERDAM, Sept 21 (Reuters) – European Union antitrust regulators are in discussions with the Dutch state over the stalled sales of assets from nationalised bank ABN AMRO under a deal mandated by the European Commission, the Dutch Finance Ministry said on Monday.

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EU races towards ruling in UK banks probe

By John O’Donnell and Foo Yun Chee
BRUSSELS, Sept 15 (Reuters) – The EU’s executive arm will be primed for a decision within weeks on whether to let Lloyds and Royal Bank of Scotland offload problem investments to the state, a ruling that could force a shake-up of the troubled lenders.

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EU raises doubts about ING, Dutch loan deal

By Ben Berkowitz
AMSTERDAM, Sept 15 (Reuters) – The European Commission has extended a review of a 22 billion euro ($32 billion) loan portfolio guarantee between ING and the Dutch state, saying the government may have paid too much.

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