Italy's Bank Scandal Drops Off E.C.'s Radar

Law360, New York (January 24, 2007, 12:00 AM EST) -- The European Commission’s internal markets regulator on Wednesday closed the infringement action it launched against Italy over how the nation handled two attempted takeovers of domestic lenders by non-Italian banks.

The decision to close the case was made after Italy amended its national regulatory framework for bank acquisitions, according the E.C. The dispute was part of a wider scandal that saw Italy’s top government banker resign more than a year ago.

Italy drew the E.C.’s ire during two attempted takeovers of Italian banks by other E.U....
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