EU Finance Ministers To Back Regulatory Overhaul

Law360, New York (June 2, 2009, 12:00 AM EDT) -- European finance ministers are reportedly preparing to endorse a plan to revamp the European Union's financial regulatory system, a boost for the economic bloc's effort to contain risk in the wake of the global economic crisis.

Reuters reported Tuesday on a draft document endorsing the sweeping regulatory form, days prior to a meeting of EU finance ministers in Luxembourg. The document splits from the European Commission's proposal in some key areas, however, and does not address questions left open in the plan, the news agency said....
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