European asset managers restate hostility to op risk charge

LONDON -- European asset managers reiterated their objections to plans to introduce capital charges on operational risks from 2004 in comments they made to both global banking regulators and the European Commission.

The London-based European Asset Management Association (EAMA) said the proposal to extend the capital requirement for op risk to the asset management business of banks under the Basle II accord was flawed.

EAMA is the trade body for the European asset management industry.

Basle II is

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