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Welcome to the weekly highlights from the Lexis®PSL Financial Services team for the week ending 15 September 2016.
On 8 September 2016 at its Conference of Presidents, the European Parliament (EP) appointed Guy Verhofstadt as representative on Brexit matters. In its press release the EP stated Mr Verhofstadt, counterpart of Michel Barnier and negotiator for the European Commission, will keep the Conference of Presidents informed of developments and will help prepare the European Parliament position in the negotiations. Mr Verhofstadt will also work closely with the Chair of the Constitutional Affairs Committee, Danuta Hübner, and other committees wherever necessary to shape the EP’s negotiating position.
On 7 September the Lords Select Committee issued a press release announcing the launch of a series of co-ordinated inquiries on Brexit to be conducted by the European Union Committee and its six sub-committees, to establish and query the key issues that will arise in the forthcoming EU Brexit negotiations. The inquiries will include an inquiry into financial services.
In a press release HM Treasury announced Philip Hammond, the Chancellor of the Exchequer, hosted a roundtable discussion on 7 September 2016 with members of the European Financial Services Chairmen’s Advisory Committee on the issues affecting the financial services industry as the UK prepares for negotiations to leave the EU.
In a press release the EBA published a report analysing the core funding ratio across the European Union. The report
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