The Association of Private Client Investment Managers and Stockbrokers says not enough attention is ...
The Association of Private Client Investment Managers and Stockbrokers says not enough attention is being given by the financial services industry to the effects of proposed new European capital adequacy rules.
Primarily designed to ensure big global banks do not go bankrupt, the rules when applied to investment firms could double the cost of regulation without any discernible benefit to end customers.
APCIMS chief executive Angela Knight says the proposed capital adequacy directive would seriously damage the investment industry across the entire EU.
The directive will be at the heart of continued lobbying of European Parliamentarians in the run-up to the harmonisation of financial service, due by 2005.
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