To ask the Secretary of State for Foreign and Commonwealth Affairs what discussions he has had with his counterparts in the General Affairs Council on the Swedish presidency's agenda for banking and financial regulation and shareholding in the EU. (294363)

My right hon. Friend the Foreign Secretary discussed the European Commission's proposals on financial regulation and supervision with his counterparts at the General Affairs Council (GAC) of 27 July 2009 and 14 September 2009. EU member states are agreed on the necessity of making swift progress on the package, with a view to reaching agreement by the December European Council under the EU Swedish presidency.

The GAC has not discussed the EU Shareholder Rights Directive.