UK exemption from EU bank rules ‘illegal’, lawyers say

Exempting the United Kingdom's banks from planned European Union rules to curb risky trading would be illegal, a leaked opinion from the Council of the European Union's Legal Service that appeared on Reuters and the Financial Times on the 16 June 2014 suggested.

The opinion would be seen as a setback for UK attempts to limit the EU's influence on the City of London.

• Primary Source

ESO: Background information: Structural reform of the EU banking sector http://www.europeansources.info/record/press-release-structural-reform-of-the-eu-banking-sector/

Blog: Open Europe, 17.06.14: When it rains, it pours – EU legal opinion puts UK on backfoot over revamped Liikanen rules http://openeuropeblog.blogspot.co.uk/2014/06/when-it-rains-its-pours-eu-legal.html

ESO: Background information: Government sets out plans to reform the structure of banking in the UK http://www.europeansources.info/record/press-release-government-sets-out-plans-to-reform-the-structure-of-banking-in-the-uk/

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