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The Swiss are implementing the vast majority of Europe's financial services legislation.
It was not "appropriate to roll out the same bonus cap across all financial services legislation," said Ms. Bowles.
He said the Lisbon treaty would have to be changed to prevent a "caucus" of eurozone members imposing financial services legislation on Britain.
The $2.4bn saving from the pension asset test is part of the government's social services legislation amendment (fair and sustainable pensions) bill 2015.
In late 1999, Mr. Gramm played a central role in what would be the most significant financial services legislation since the Depression.
The Bahamas and the Cayman Islands, the only British territories on the list published last June, were deleted after having made "important reforms" to their financial services legislation.
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Although the deadline for firms to comply has been pushed back to 2007, the FSA thinks they need to act now".This is probably the biggest piece of financial-services legislation ever passed in the world," says Bob Fuller, head of information technology at Dresdner Kleinwort Wasserstein, an investment bank, who co-chairs a working group on the directive.
"This is the most inclusive and comprehensive national service legislation ever passed," said John Gomperts, president of the nonprofit research group Civic Ventures, who consulted with Congressional staff members on the bill, which is called the Senator Edward M. Kennedy Serve America Act.
Today's unhappy reminders of the fighting in Afghanistan are in just this tradition, which stretches back through British history to the "sturdy beggars" – injured veterans of French wars – who prompted the country's first version of social service legislation in Tudor times.
As the national service legislation moved to the floor of the Senate, you could see Kennedy in peak form.
"It's important that they prioritize postal service legislation," said Art Sackler, head of the Coalition for a 21st Century Postal Service, which represents mailers.
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