This newsletter highlights some of the key financial regulatory measures affecting the UK and EU during the period from 1 August to 14 December 2012.
In This Issue:
- Regulation of Banks and Investment Firms
- Investment Funds Regulation
- Securities Regulation
- UK Regulatory Reform
- Excerpt from Regulation of Banks and Investment Firms:
Banking Union -
On 13 December 2012, EU leaders agreed on a process that will deepen integration of the EU financial framework and strengthen economic governance to complete Economic and Monetary Union.
The Roadmap adopted by the European Council follows the report “Towards a genuine Economic and Monetary Union” prepared by the President of the European Council Herman Van Rompuy together with the Presidents of the European Commission, the European Central Bank and the Eurogroup.
Single Supervisory Mechanism -
A key plank in the Banking Union proposals is the setting up of a Single Supervisory Mechanism (“SSM”), covering Eurozone banks and open to all member states. The deal struck by EU ministers on 13 December 2012 allows the Council Presidency to negotiate with the European Parliament with the aim of reaching a final agreement rapidly so that the SSM can be implemented as soon as possible.
Please see full newsletter below for more information.
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