Bond market shake-up on hold

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The European credit markets breathed a sigh of relief this month as the European Economic and Monetary Affairs Committee voted to allow issuers of bonds to choose whether they are regulated in their country of origin or in the market where they raise their funds.

Under current law, issuers are already free to make this choice, but a set of proposals presented to the European parliament in November 2002 threatened to restrict issuers to review by the regulator in their country of origin

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