Almunia to deliver anti-trust broadside

Joaquín Almunia, the European Union Competition Commissioner delivered a stark warning to banks, traders and other financial players on the 16 May 2011 that the European Commission's planned to combine tough anti-trust scrutiny with its drive for stronger regulation.

Regulation was 'not enough' and competition policy would be needed to tackle harmful behaviour by individual participants in wholesale markets, Mr Almunia, told a London audience.

ESO: Background information: Brussels launches probe into swaps http://www.europeansources.info/record/brussels-launches-probe-into-swaps/

European Commission: RAPID: SPEECH/11/337: Joaquín Almunia Vice President of the European Commission responsible for Competition Policy Competition Policy Issues in Financial Markets, CASS Business School London, 16 May 2011 http://europa.eu/rapid/pressReleasesAction.do?reference=SPEECH/11/337&format=PDF&aged=0&language=EN&guiLanguage=en

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