EU to propose rules on failing clearing houses by year end- EU official

February 3, 2016 3:26 PM

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BRUSSELS Feb 3 The European Commission plans to propose new European Union rules for dealing with failing clearing houses for securities markets before the end of the year, an EU official said on Wednesday.

The draft law had been due last year but the EU executive has faced the difficulty of finding consensus on who should pay for a bust clearer, with pension funds and asset managers resisting any attempt to include them in bailouts.

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