Financial Regulatory Forum

Darling says will not harm UK’s financial sector

 A man looks out over Hampstead Heath, with the City of London in the background October 29, 2009.   By Matt Falloon and Steve Slater

HORSHAM, England, Dec 7 (Reuters) – The British government will not do anything to hurt London’s financial prowess and would rather go too far with economic support measures than not go far enough, Finance Minister Alistair Darling said on Monday.

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EU unveils blueprint to overhaul policing of banks

European Commissioner in charge of Internal Market and Services Charlie McCreevy speaks during a news conference at EC Headquarters in Brussels September 23, 2009. The European Union unveiled its blueprint on Wednesday for an overhaul of the way banks and financial markets are policed, a central plank to new rules designed to prevent a repeat of the global economic crisis.  REUTERS/Sebastien Pirlet   (BELGIUM POLITICS BUSINESS) By John O’Donnell

BRUSSELS, Sept 23 (Reuters) – The European Union unveiled its blueprint for an overhaul of the way banks and financial markets are policed, a central plank in new rules designed to prevent a repeat of the global economic crisis. It plans to create a banking super-watchdog, with power to overrule countries such as Britain, and a pan-European supervisor that would warn of early signs of crisis.

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City of London, U.S. lobbies are fighting market regulation – Germany

German Finance Minister Peer Steinbrueck arrives to the weekly cabinet meeting in Berlin, August 5, 2009.   REUTERS/Fabrizio Bensch (GERMANY POLITICS) BERLIN, Sept 23 (Reuters) – The City of London is doing its best to block the introduction of stricter financial market regulations, but tougher rules will come, German Finance Minister Peer Steinbrueck said a day before a Group of 20 summit.

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German minister accuses Britain of hindering market reforms

German Finance Minister Peer Steinbrueck

By Matthias Sobolewski
BERLIN (Reuters) – German Finance Minister Peer Steinbrueck accused Britain on Wednesday of hindering efforts to reform global financial markets because it is too eager to pander to the City of London. While the U.S. administration was now interested in reforming financial markets, London was resisting change, said Steinbrueck, who last year sparked a diplomatic spat with Britain by criticising its economic stimulus plan.

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