EU’s Top Banker Warns of Rule Fixation ‘Going Beyond Reason’
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Christian Clausen, president of the European Banking Federation, said regulators need to rethink an approach he warned will bury the industry under a mountain of rules with little coherence.
Clausen, who is also the chief executive officer of Nordea Bank AB, said his group plans to take up the issue with the new European Commission and parliament in an effort to prevent regulators adding more rules to the existing framework.