France calls for tighter int'l finance rules
France will call for tighter rules of international finance sector in French EU Presidency paper this week
A draft
French
EU presidency paper to be presented on Friday at a meeting of the EU leaders
in Brussels, will call for a tightening of international supervision and
regulation of the finance sector.
The document is said to call for stricter supervision of rating agencies, a
harmonisation of accountancy rules and stronger risk-management tools for the
securitisation of credit, according to
Bloomberg,
citing the German Handelsblatt.
The document also says national supervisory bodies should improve
cross-border co-ordination to control global operators in the financial market.
‘No financial institution, market or jurisdiction’ should be tolerated
‘outside regulation or supervision,’ the document reportedly said.