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To: TobagoJack who wrote (111381)	5/9/2010 8:35:13 AM
From: Haim R. Branisteanu	1 Recommendation Read Replies (1) \| Respond to of 116555

EU's Barnier Calls For Tougher Sanctions On Market Speculators PARIS (Dow Jones)--The European Union's internal market commissioner Sunday called for tougher sanctions on stockmarket speculators. Speaking on French radio Europe 1, Michel Barnier said sanctions against speculators will take various forms "including legal action, when there is proof." "We are ready to increase the sanctions against abnormal speculative action," he said. "Regulatory authorities need to be extremely severe with those that are launching rumors to manipulate stock prices in order to make money on the back of the suffering of the people," Barnier said. "I think that all inquiries made by the European authorities need to be rigorous, fast and coordinated...and the sanctions need to be exemplary," he said, adding that he will discuss the matter during his trip to New York and Washington, D.C., which starts Sunday. Tasked with improving regulation in the wake of the global financial crisis, Barnier is due to meet with senior U.S. regulators and U.S. financial industry executives, including Goldman Sachs Group Inc. (GS) chief Lloyd Blankfein and Kohlberg Kravis Roberts & Co. head Henry Kravis during his trip to the U.S. He is in charge of numerous legislative efforts that will have a profound impact on the industry. Among these are proposals to tighten regulation of derivatives, hedge funds and private-equity firms, bank leverage and credit-ratings agencies. -By Ruth Bender, Dow Jones Newswires;