Chancellor George Osborne want regulator based in the UK

Chancellor George Osborne will tell a meeting of European Union finance ministers that the European Union’s “super-regulators” should be based in London not Frankfurt as suggested by the EU, the FT reports

Osborne will also argue that the new regulators should not be able to override domestic regulators if it jeopardised the principle of national fiscal sovereignty. He wants the European Council involved in the selection of the new regulators’ heads, instead the Commission.