Trade groups beg for changes to Cad3


BRUSSELS, Belgium -- Financial services trade associations from across Europe and the US congregated at informal EU hearings in late January to lobby for changes to the third draft of the capital adequacy directive (Cad3), but observers fear their pleas may well fall on deaf ears.

Overall, "in the op risk area, the commission is proposing to diverge in some potentially quite significant ways from what Basel is proposing", when it comes to applying the Basel revisions to investment firms

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