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
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
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.