Germany announced new rules on Friday to tighten banks' risk-management standards, increase the powers of supervisory boards over managers and outlaw risky and short-term-focused compensation plans.
The new rules from banking regulator BaFin are the latest in a series of initiatives by European regulators and governments trying to put into practice the lessons learned from two years of turmoil in global financial markets that have resulted in bailouts across the continent costing hundreds of billions of dollars.
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