People walk in front of a shop of French luxury fashion brand Louis Vuitton decorated for the Christmas holiday season in Bordeaux, south-western France, December 23, 2009. REUTERS/Regis DuvignauBy Christopher Elias,  (Westlaw Business)

Radical changes to Europe’s system of financial regulation are under way and with them a harmonisation of securities rules as Europe turns a corner on the drive to create a single European Securities and Markets Authority with more stringent disclosure requirements. But with not all European regulators striking the same note, the move for greater scrutiny and heightened disclosure expectations over short selling and shareholdings is making sluggish progress forward. (more…)