Commission proposes tighter M&A rules for supervisors

Cross-border merger & acquisition applications in the insurance, banking and securities sectors seeking approval from supervisory authorities will meet with new procedures should a recent proposal by the European Commission get the go ahead. The Commission, which has been looking into why there is less cross-border merger & acquisition activity than anticipated, says procedures need to be clearer and more consistent across the European Union and it wants to put an end to protectionist measures taken by some member states when assessing merger and acquisition proposals.