The EU could be less than a month away from a deal forcing the bloc’s listed companies to change their accountant every decade, a senior EU lawmaker said.

Another change on cards for Childers

The EU’s top financial services official warned the UK it won’t be allowed to pick and mix its relationship with the EU and must accept rules governing the City of London in exchange for access to the single market.

The US owner of the New York Stock Exchange will take over the running of Libor, the benchmark interest rate at the centre of a global rigging scandal, wresting control from a British bankers’ trade body for a token £1 (€1.16).

THE German government, which applied curbs on some types of short-selling last year, said it favours a far-reaching ban across Europe of so-called naked short-selling of shares, government bonds and credit default swaps.

CREDIT rating agencies are being investigated by the EU, as they are suspected of having conflicts of interest and timing their downgrading of euro area countries to suit some of their clients.

HEDGE-fund and private-equity regulations that will restrict bonuses and require increased disclosure have been approved by European Union negotiators representing the European Parliament and 27 member states.

PRIVATE equity and hedge funds will have access to all 27 EU countries with a single registration and be subject to EU-wide regulation following an agreement by finance ministers.

THE EU’s financial system is to have a comprehensive new supervision system in force from next January, aimed at preventing another financial crisis.

DIRECTORS of financial institutions will no longer be able to sit on more than three boards, and they must bring expertise to their positions, according to European Commission proposals to regulate corporate governance.

A NEW watchdog system to identify and give early warnings of banking problems across the EU has been unveiled by the European Commission.