To ask the Chancellor of the Exchequer what the Government's policy is in relation to the work of the EU high-level group on regulation of financial services chaired by M. de Larosiere, established in October 2008. (244308)

The Commission has established a 'High Level group' led by Jacques de Larosiere to advise it on supervision, financial stability oversight cooperation, early warning mechanisms and crisis management, and how national supervisors in the EU should cooperate globally. It will report in the spring. Although an internal group established by the Commission, the Government will contribute fully to the group's work.