Move avoids ‘short-term cliff-edge effects’ from expiration of permit that was due in June
Markets see ‘progressive normalisation in trading’ though volatility remains high
Regulations say management companies must have ‘substance’
Stocktake: Funds sold as actively managed may actually closely follow benchmarks
Cyril Roux to join management board of European Securities and Markets Authority
MEPs had called for shake-up of auditing industry in wake of financial crisis
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