Brussels, 09/11/2011 (Agence Europe) - On Tuesday 8 November 2011, the ECOFIN Council adopted a directive to tighten up controls of financial conglomerates active in a number of areas (banking, insurance, investment corporations) (see EUROPE 10198). The new legislation will cover portfolio management companies in the calculations to determine whether companies are conglomerates. To carry out their work, national supervisors will no longer have to select legislation for banking, insurance or...