UK faces defeat over derivatives clearing

Article reported that the United Kingdom was bracing for defeat in Brussels in the autumn of 2011 on a critical piece of financial regulation, which would force it to cede control over the shape of key markets in the City of London, home to more than three-quarters of Europe’s derivatives trading.

The looming defeat over the planned derivatives rules heightened British concerns – both in government and in the City – that the UK was increasingly isolated in Brussels, just as a wave of financial regulation entered the EU legislative pipeline with far-reaching implications.

ESO: Background information: Hague says euro ‘burning building’ claim correct http://www.europeansources.info/record/hague-says-euro-burning-building-claim-correct/

ESO: Background information: Britain to sue ECB over threat to City http://www.europeansources.info/record/britain-to-sue-ecb-over-threat-to-city/

ESO: Background information: UK faces tax plan hit despite mooted opt-out / Tax plan raises fears for Europe business http://www.europeansources.info/record/uk-faces-tax-plan-hit-despite-mooted-opt-out-tax-plan-raises-fears-for-europe-business/

EurActiv, 30.9.11: Britain vows to resist 'bonkers' EU Tobin tax http://www.euractiv.com/euro-finance/britain-vows-resist-bonkers-eu-t-news-508038

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