Mars joins BP and Shell in opposing European financial market regs – FT
NEW YORK: 7 JUNE 2015
Confectionery company Mars Inc has joined oil companies BP Plc and Royal Dutch Shell Plc to oppose planned new European financial market regulations, arguing that they would increase volatility and reduce liquidity in raw materials markets, according to a report by the Financial Times on Sunday.
The companies, along with the European Cocoa Association, as well as commodity trader Vitol, have signed a letter to the European Commission noting a “significant unintended risk of damaging the markets”, the report said. The firms argued that this would in turn push up the price of consumer goods ranging from food to energy.
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