Lord Hill quits his EU financial regulatory post.
Lord Hill, a former political lobbyist and PR consultant, was special adviser to Cabinet Minister Kenneth Clarke and an adviser to the Conservative Prime Minister John Major before being appointed a Government Minister in 2010 and appointed European Commissioner for Financial Stability, Financial Services and Capital Markets Union
This how the EU describes the role: The post is responsible for the ensuring that financial markets are properly regulated and supervised so that they are stable, competitive and transparent, at the service of jobs and growth.
This includes the full implementation of the Banking Union. They are also responsible for establishing a Capital Markets Union by 2019, for all 28 Member States of the EU, and maximising the benefits of capital markets and non-bank financial institutions for the rest of the economy, and in particular SMEs.
In addition, the post is responsible for proposing measures to make financial services work better for consumers and retail investors, and promoting global consistency in regulation and the implementation of agreed standards and principles in cooperation with international partners.
Well none of that is going to happen, as the former PR man has quit, the second former PR man to quit, as David Cameron did so yesterday...
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