The EU’s General Court has handed the UK a notable victory in financial services regulation by striking down plans by the European Central Bank to require firms which process securities trades to be located within the Eurozone.
The ECB had said that so-called central clearing counter parties (CCPs) handling transactions worth more than €5 billion should be inside the single currency area because it would make it easier to intervene if they got into trouble.
Clearing houses are use...
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Already a member? Login hereBenjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.
Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.