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EU Financial Services Commissioner Will Press on With Reforms

Roberta Holland | November 12, 2014

In a speech before the European Commission last week, the new financial services and markets commissioner said he will not attempt to unwind the numerous reforms implemented since the financial collapse, but cautioned that any new regulations should be examined for their impact on jobs and growth.

Jonathan Hill, installed this month as commissioner in charge of Financial Stability, Financial Services, and Capital Markets Union, noted that President Jean-Claude Juncker placed jobs and growth at the top of his agenda, and vowed to follow suit by “looking at everything I do through the prism of jobs and growth.”

Hill said good regulation is crucial for financial stability, but so is growth, and advocated lawmakers examine whether they have struck the right balance between reducing risk and encouraging growth. However, he acknowledged there are a host of measures he will need to introduce to abide by...

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