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Recent updates

  • Article: Apr 15, 2014

    The European Parliament has today voted by an overwhelming majority in favour of an EU proposal to develop key information documents for investment products known as PRIPS*.

    Commenting on today's vote Sharon Bowles MEP, who chairs the parliamentary committee responsible for shaping the proposals, said:

  • Article: Apr 15, 2014

    This evening the European Parliament will vote on the revised Markets in Financial Instruments legislation, so-called MiFID2, which now consists of a regulation and a directive.

    MiFID, in its original form and as now revised, is a comprehensive piece of securities and markets legislation that is envied by the US as being all in one place, with a single rule-maker. It is of particular importance to the UK as the centre of capital market activity for the EU and globally.

  • Article: Apr 15, 2014

    The European Parliament has approved new rules to make big lorries safer for other road users and more fuel-efficient.

    Under changes pushed by Liberal Democrat MEPs, the design of lorry cabs are set to be changed to reduce the number of blind spots under the front widescreen and the side of the vehicle. The new designs would also include safer cab fronts to reduce damage caused by impacts with cyclists and pedestrians. It is thought the proposal could help prevent dozens of fatal accidents each year.

  • Article: Apr 15, 2014

    Nick Clegg has called for the publication of the Chilcot report into the Iraq war, which identifies exactly what happened in the run-up to the conflict in Iraq.

    The Chilcot report includes about 200 cabinet-level discussions, 25 notes from Tony Blair to George W Bush and more than 130 records of conversations between the former US president and Tony Blair.

  • Cyclist Jane Oseman keeps a wary eye on a large lorry at the Green Long Eaton
    Article: Apr 15, 2014

    Liberal Democrat MEP Catherine Bearder has welcomed a European Parliament vote to improve lorry safety through tougher design standards today, with 604 MEPs voting in favour.

    Under changes pushed for by Liberal Democrat MEPs, the design of lorry cabs are set to be changed to reduce the number of blind spots under the front windscreen and the side of the vehicle. The new designs would also include safer cab fronts to reduce damage caused by impacts with cyclists and pedestrians. It is thought the proposal and could help prevent dozens of fatal accidents each year.

  • Article: Apr 15, 2014

    MEPs today gave their seal of approval to one of the most important pieces of consumer legislation to come through this mandate of the European Parliament.

    Following today's vote, which secures the agreement the Parliament's Economic and Monetary Affairs Committee negotiated with the Council, any citizen of any background legally resident in the European Union now has the right to open a bank account with basic features.

  • Article: Apr 15, 2014

    Today in the European Parliament MEPs voted through legislation to protect taxpayers from bail-outs of failing banks.

    The Bank Recovery and Resolution Directive voted through today means that in future shareholders and bondholders, not taxpayers, have to take the brunt of failure. This is in line with international work on so-called bail-in, on which the former deputy governor of the Bank of England, Paul Tucker, played a leading role.

  • Article: Apr 15, 2014

    This week the European Parliament has ratified the second reading agreement with the Council on the revisions to the Deposit Guarantee Scheme Directive. The deposit guarantee itself remains at €100,000 (£85,000) but better procedures have been put in place to make sure that the funds to pay depositors actually exist and that money gets to people in reasonable time in the event of a bank failure.

  • Article: Apr 15, 2014

    The former Speech Writer to Tony Blair said that he believes Nick Clegg is making a difference: "By stopping the Tory Right, the Deputy Prime Minister should be applauded by all liberal voters."

    Philip Collins worked as Tony Blair's Chief Speech Writer, responsible for Blair's very last speech as Leader of the Labour Party. In his article published today, he said that without the Lib Dems in Government, tax cuts for the wealthy would have been more generous. He points out that green taxes would be slashed harder, welfare cuts would be more severe, and there would be greater progress towards abolishing human rights legislation.

  • Article: Apr 15, 2014

    In a landmark occasion in the European Union, the Banking Union was completed by the passing of the Single Resolution Mechanism in today's European Parliamentary votes.

    The Single Resolution Mechanism establishes a single resolution board which will act as the resolution authority for banks across the Eurozone. Also established under the regulation was the single resolution fund - taking the place of national resolution funds this will be paid into by all banks and used to fund the costs of resolution in a failing Eurozone bank.