. . . The penalties on banks and other firms also need to be stiffened to be effective, and there are doubts about how willing member state regulators will be to pursue the maximum fines on institutions, said Roy Girasa, a professor at Pace University’s Lubin School of Business.
“The [European Parliament is] simply trying to send a message to them. State regulators have a lot of discretion with respect to that,” he said.
Read the article: Law360