European Fund Managers Say Basle Op Risk Ideas Are Deeply Flawed


BRUSSELS -- Global banking regulators' plans for making major banks set aside capital against operational risks such as fraud, computer breakdowns and settlement failures were not welcomed by European fund managers and stockbrokers.

Fund managers fear that the application of the charge to asset management businesses owned by banks could increase costs in a competitive market.

Non-bank fund managers and stockbrokers also fear the European Union's apparent intention of applying to EU financial

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