Critics Attack European Union Plans To Follow Basle II


BRUSSELS -- Critics of the European Union's plans to make all investment firms -- not just banks -- set aside capital against the risk of losses from operational hazards such as fraud, computer breakdowns and trade settlement failures, say their fears were confirmed in February.

Angela Knight, London-based chief executive of the Association of Private Client Investment Managers and Stockbrokers (APCIMS), says her organisation is "horrified" at the possibility of rises in regulatory charges

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