Bank will have up to nine months to cover capital shortfalls
Scope extended to trading venues such as multilateral trading facilities and over-the-counter (OTC) markets
Draft rules require firms to provide a mandatory Key Information Document
Support ratings likely to be downgraded
Investment conditions improved in the second half of 2013
Economic consequences could be severe for Russia, Europe
European Union countries will have two years to implement directive in national law
Proposals include a ban on proprietary trading and splitting trading activities into separate subsidiaries
UK argued ESMA’s emergency curbs on short selling violate EU principles
The Continent is still appealing, but portfolio managers caution that investors need to pick and choose, and that some countries still are struggling to extricate themselves from the debt crisis