EC rules to hit UK companies

first_img Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof EC rules to hit UK companies KCS-content whatsapp INSTITUTIONS including Lloyds Banking Group and Royal Bank of Scotland will be hit by an overhaul of European rules giving regulators greater powers over combined banking and insurance groups.The European Commission (EC) yesterday put forward plans to tighten oversight of “financial conglomerates”, defined as firms that lend and provide cover across multiple European states. As well as taxpayer-backed Lloyds and RBS, Barclays, HSBC, Old Mutual, Prudential and Standard Life are among those who fall into the category in the UK.The revised measures are designed to help national watchdogs such as the Financial Services Authority (FSA) clamp down on the multiple use of capital, whereby funds in an entity are used to calculate the capital strength of both the entity and its parent company. They are also intended to make it simpler for regulators to spot risks hiding in complex group structures and holding companies.The EC, led by José Manuel Barroso, said the rules would remedy “unintended loopholes identified in the context of the financial crisis”. The Commission aims to pass its proposals into law by the start of 2011, after discussions with?European Union member states . whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailNoteabley25 Funny Notes Written By StrangersNoteableyZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanReporter center[Photos] Meet The Man Katie Couric Is Romantically Involved With In 2021Reporter centerBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal Pastcenter_img Share Tags: NULL Show Comments ▼ Monday 16 August 2010 8:46 pmlast_img read more