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European Financial Services Proposals

Part of Oral Answers to Questions — Foreign and Commonwealth Office – in the House of Commons at 4:22 pm on 1st December 2009.

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Photo of Sarah McCarthy-Fry Sarah McCarthy-Fry Parliamentary Secretary, HM Treasury 4:22 pm, 1st December 2009

Our negotiating position is that the supervisory authorities will have absolutely no authority over individual firms, and that their only power over supervisory authorities will be in cross-border disputes. That will be our position going into the negotiations tomorrow.

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