You can’t always get what you want. Politics is the art of the possible. Be careful what you wish for. Financial firms could do worse than remember these three well-worn phrases as they nudge the European Union to give their top regulators a new power.
Unlike their US counterparts, EU financial watchdogs have no formal way to delay or suspend the enforcement of rules that would hurt a market or particular firms. The bloc’s lawmakers are now considering how such no-action procedure could be