UK: Treasury Committee finds serious problems with European Commission's proposals for European financial supervision

The Treasury Committee has today published an interim report in which its sets out its opinion on the European Commission's proposals for European financial supervision: see here (html) or here (pdf). The Committee concludes, inter alia, that "even on a cursory examination there are serious problems with the Commission's proposals which need to be dealt with before the Council agrees to the draft legislation" (para. 28).