Europe inches closer to own version of no-action relief

Five options on the table, lawmakers want case-by-case veto, firms push for power over primary laws

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

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