McCreevy Touts Hands-Off Approach To Regulation

Law360, New York (July 6, 2007, 12:00 AM EDT) -- Though the European Commission has been successful in overseeing financial markets in Europe, the regulator must be careful not to enact legislation that is symbolic rather than effective, said Charlie McCreevy, European Commissioner for Internal Markets and Services.

Speaking at the International Corporate Governance Network's 12th annual conference in Capetown, McCreevy stressed that regulators must strike a balance between intervening with legislation and letting market forces correct problems.

“The main job of the regulator is to get the legislative framework right,” he said. “To strike the...
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