EU Chief Talks Financial Recovery, Concerns Over US Rules

Law360, New York (February 20, 2014, 8:30 PM EST) -- Michel Barnier, financial services chief of the European Union, spoke of the EU's ongoing recovery from the financial crisis in a conference Thursday, with concerns over the U.S. Federal Reserve's recently adopted measures requiring foreign banks to have more capital based in the U.S.

Speaking at the 12th annual European Financial Services Conference in Brussels, Barnier said that the EU has been bouncing back from the economic crisis, but despite the fact that its efforts have "borne fruit," there is still work to be done.

"It would...
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