EU prepares rules for tackling failed financial firms outside banking

April 17, 2015 10:36 AM

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EU prepares rules for tackling failed financial firms outside banking

LONDON (Reuters) - The European Union is looking at creating rules on how to deal with financial firms outside the banking industry that run into trouble, including clearing houses, insurers and asset managers, the EU's financial services chief said on Friday.

The 28-country bloc has already introduced rules on how to wind down troubled banks without turning to taxpayers for cash. It now wants a similar regime for other so-called systemic financial market participants.

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