Lords committee backed plans for a European capital markets union.
The British House of
Lords has criticised Europe for not giving enough consideration
to the effect of EU reforms on the financial sector and not
taking into account international stanards.
The House of Lords's European committee published its report
on EU financial reforms on Monday concluding that any programme
amounting to 41 legislative proposals would inevitably contain
The report criticised
what it sees as the regulators’ failure to
maintain a high level of consultation and impact assessments.
It highlights the
Alternative Investment Fund Managers Directive (AIFMD), the
bank remuneration provisions in the Capital Requirements
Directive (CRD IV) and plans for a Financial Transaction Tax as
examples of flawed proposals caused by outside political
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