Finance & Trade

U.K. Commissioner Calls for Completion of EU Banking Union

November 05, 2014

In a recent statement, the European Commissioner from the U.K. Jonathan Hill praised the establishment of the European Central Bank as the Single Supervisor of the EU banking union and encouraged the completion of the union through a Single Resolution Mechanism for banks.
LSE Chief: EU Exit Would Not Harm U.K. Lead in Finance

October 29, 2014

The chief executive of the London Stock Exchange ("LSE") has predicted that the exit of the U.K. from the EU would not reduce London's status as a global financial leader.
EU Authority Issues Warning on Banker Bonus Caps

October 22, 2014

Following its investigation of "allowances" that institutions have used to compensate executives without running afoul of recently passed bonus caps for banks in the EU, the European Banking Authority has called on EU authorities to demand that these allowances are consistent with the banker bonus legislation.
Report Calls for EU Deregulation of Small Businesses

October 17, 2014

A report from a task force headed by former Bavarian leader Edmund Stoiber proposes the exemption of European small and medium enterprises from nearly all EU regulation of business practices.
EU Questions U.K. Color Coding of Food

October 08, 2014

In response to a complaint from Italy over a British "traffic light" system that indicates the healthiness of food on its packaging, the European Commission has described the system as "simplistic" and has called for the U.K. Government to justify the scheme.
EU Considers Rejection of French Budget

October 08, 2014

The Telegraph reports that, for the first time, the EU may use its new authority to police national budgets by forcing France to revise its 2015 budget plan due to the country's minimal projected spending cuts.
Report Finds Financial Benefit from U.K. Exit from EU

October 01, 2014

A report from the U.S.-based Heritage Foundation finds that a British exit from the EU and signing of a trade deal with the U.S. would boost the U.K. economy by £10 billion.
EU Countries Warn U.K. over Payment of Unemployment Benefits

October 01, 2014

A group of fellow EU member states have accused the British Government of refusing to pay unemployment benefits to people who had worked in the U.K. but had returned to their home countries after losing their jobs, raising the possibility that these countries may seek action on the issue by the European Commission.
EU Will Punish Avoidance of Banker Bonus Caps

October 01, 2014

As it begins enforcement of EU caps on bonuses to banking executives, the European Banking Authority has indicated that it will take a stricter stance than the U.K. and other EU member states on what constitutes fixed pay, thus clamping down on attempts by banks to "sidestep" the rule.
EU Rejects U.K. Calls for Independent Assessments of Proposals

October 01, 2014

EurActiv reports that the incoming European Commission has rejected a proposal, among others circulated by the British Government among EU officials, calling for an independent body to review the impact of Commission proposals on the competitiveness of European businesses and on consumers.