Depositary banks in protest over EU plans

Standards for depositaries, which oversee regulated mutual funds in Europe, are set to be tightened through new legislation in the wake of the Madoff affair, European Coommission officials announced in Brusseles on the 28 May 2009.

The proposal has provoked a storm of protest in the arcane depositary world. This article looks at those protests.

ESO: Background information: EU to tighten mutual fund rules http://www.europeansources.info/record/eu-to-tighten-mutual-fund-rules/

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