The Prime Minister has told the Commons about the European Council meeting last week that, among other things, agreed measures to put to the G20 relating to changes in banking and financial services regulation. He singled out:

  • regulation of all systemically important institutions, including hedge funds and shadow banks;
  • greater transparency from traditional secretive or loosely regulated jurisdictions;
  • colleges of supervisors for cross-border institutions;
  • international principles on remuneration in the financial sector; and
  • quick agreement on directives on capital, Solvency II, CRAs and cross-border payments and e-money.