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BN 01/16 17:48 EU Weighs Ban on Proprietary Trading at Biggest Banks From 2018
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EU Weighs Ban on Proprietary Trading at Biggest Banks From 2018 2014-01-16 17:51:10.998 GMT
By Jim Brunsden Jan. 16 (Bloomberg) -- The largest banks in the EU would face a “narrowly” defined ban on proprietary trading from 2018 under draft plans by Michel Barnier, the EU’s financial services chief. * Regulators would also have until then to gauge whether some banks should split off their trading activities into separately capitalized units, according to the document obtained by Bloomberg News * Banks would be caught by the proprietary-trading ban if they are identified by regulators as “systemically important” at a global level or if they surpassed certain financial thresholds, according to the undated document * Bloomberg Story Link:NSN MZI9HB6K50Z3<GO>
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To contact the reporter on this story: Greg Chang in San Francisco at +1-415-617-7076 or gchang1@bloomberg.net
To contact the editor responsible for this story: Greg Chang at +1-415-617-7076 or gchang1@bloomberg.net