Forget a second-rate MP: A central banker would do more for Britain in Brussels THE CHOICE of the UK’s next EU commissioner presents a difficult decision for David Cameron. It is also a crucial one in determining how successfully the UK can secure the reforms that best serve its interests, including for the financial services sector. In considering his preferred candidate, Cameron undoubtedly feels the need to accommodate his [...]
As BNP Paribas receives a $8.9bn fine, can US authorities be accused of protectionism? John Mann, Labour MP for Bassetlaw, says Yes. BNP Paribas has pleaded guilty to significant wrongdoing. But while US authorities may have levied large fines on US banks, by suspending BNP’s ability to handle some US dollar clearing, they have removed a major competitor from the market. The US Justice Department has fined non-US based [...]
