European Equity Benchmarks Close Lower

The broad-based major European indices closed lower in Wednesday’s trading session as financial stocks and banks weighed down the markets. In economic news, the Bank of England published a review of its approach to identifying and managing conflicts of interest. The Bank said it has been working closely with the UK Treasury to ensure that conflict checks for new appointees to court and the policy committees are carried out effectively, and the same applies to senior appointments made by the Bank.

As recommended by the review, the Bank will designate a conflicts officer with overall executive responsibility for conflict identification and management. The Bank said it will consider the other organizational and technology changes recommended in the review, including the provision of a centralized system for capturing and reviewing data on relationships and potential conflicts.

By Kristen Tardella