Strasbourg, 20/11/2002 (Agence Europe) - On second reading on Wednesday, the European Parliament approved the Council's common position on the directive on financial conglomerates. The new directive strengthens the prudential surveillance of conglomerates active in several financial sectors, like banking and insurance. It sets rules and solvability thresholds, by, notably, prohibiting the dual usage of own-funds to cover risks in different entities of the same conglomerate. In a short debate...