European regulation of investment firms needs reform, says EBA report
Current practices do not properly account for risk and vary widely, report argues
Micro-prudential regulation of investment firms in the European Union (EU) needs fundamental reform, the European Banking Authority (EBA) said in a report published on December 14.
Current regulation varies greatly between countries and fails to take account of investment firms' real risk profile, while often being inappropriately complex and time-consuming, the report argues.
Part of the solution, it suggests, is varying the regulatory requirements imposed on firms on the basis of their size
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