Denmark's financial regulator to get tough with banks

Copenhagen

DENMARK'S financial regulator plans to take an aggressive approach with banks that don't meet new rules designed to protect taxpayers.

"We need to act a lot earlier than we have acted," Jesper Berg, the director general of the Financial Supervisory Authority in Copenhagen, said in a phone interview.

As a regulator in the first European country ever to force losses on senior bank creditors, Mr Berg says Italy's plight with Banca Monte dei Paschi…