| Author (Person) | Chung, Joanna, Hollinger, Peggy |
|---|---|
| Series Title | Financial Times |
| Series Details | 13.1.09 |
| Publication Date | 13/01/2009 |
| Content Type | News |
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European rules on investment funds need an overhaul in the wake of the $50bn alleged fraud by Bernard Madoff to restore investor confidence, the French Finance Minister Christine Lagarde urged on the 12 January 2009. She warned that the Madoff affair could weaken Europe’s efforts to create a safe environment for cross-border investment, as it was revealed how member states had interpreted directives differently. The warning, a thinly disguised attack on Luxembourg regulators, was made in a letter sent to Charlie McCreevy, Europe’s Internal Market Commissioner, and copied to Jean-Claude Juncker, Prime Minister of the Grandy Duchy. |
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| Subject Categories | Business and Industry |
| Countries / Regions | Europe, France, Luxembourg |
