Law360 | June.06.2012
This article, about proposed E.U. banking rules that would prevent future taxpayer bailouts of troubled banks, quotes London commercial litigation partner Sam Millar.
While the regulators of each nation would craft their own rules, the fact that they'd be working from a common framework clearly signals the EU's intent to move toward a more unified banking system, said Sam Millar, a regulatory partner in the London office of Orrick, Herrington & Sutcliffe LLP.
"It's pretty definitive; it marks a stake in the ground of Europe's commitment to the idea that future banking crises will be dealt with in a different, more cooperative way," Millar told Law360.