Critics attack European Union plans to follow Basel II
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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 estimated at up to 250% for some investment firms in the lowest-risk category - those not handling client funds.
Critics say it's utterly inappropriate to calculate an op risk capital charge for investment firms on the same basis as that for banks.
The European Asset Management Ass
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