EC to delete ‘opt-out’ clauses.

The new board’s most pressing issue will be to improve or delete the ‘opt-out’ clauses made available by Iosco, the club of securities regulators.

These clauses allow countries to demand additional disclosure or reconciliation to domestic standards which standard-setters say will hinder convergence.

The EC is this month expected to pass a regulation requiring listed companies to use international standards from 2005, giving the board a boost.

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