EU Likely to Reduce Swap Rules' Strictness

European Commission calls for 'more cautious approach' to securities regulations.

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European Union banks and asset managers are set to win looser rules on buying and selling bonds and derivatives, after the bloc’s executive branch called for a rewrite of restrictions on securities.

The European Commission pushed back against proposed European Securities and Markets Authority (ESMA) regulations that demanded increased transparency in non-equity markets, saying a “more cautious approach” was needed for securities that are hard to trade, according to a letter from the commission to ESMA that was obtained by Bloomberg News. ESMA, which is in charge of writing the standards, said it was considering how to respond.

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