EU Cad concedes on investment firms but limits role of insurance

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Brussels – The European Commission issued the fourth consultation on the capital adequacy directive (Cad) on July 1. The document – published nearly three weeks after initially expected – clarified several op risk issues, such as the role of insurance and the application of the op risk capital charge to investment services firms. However, some issues remain open to further lobbying from the industry.

This latest draft follows on from the third draft of the Cad, which was issued in November

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