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McGuinness approved as Commissioner for new FS portfolio by EU Parliament with overwhelming vote of 583 for, and 75 against Back
7th October 2020: The EU Parliament approved the appointment of Mairead McGuinness as Commissioner and Executive Vice-President Valdis Dombrovskis’s change of portfolio, today. The recommendation goes for final approval by the EU Council. "I expect to hit the ground running early next week", McGuinness said.
The Parliament approved the appointment of McGuinness as Commissioner and Executive Vice-President Valdis Dombrovskis’s change of portfolio.
Commissioner Designate-Mairead McGuinness:"Tackling money laundering will also be a core part of the work programme I will be dealing with, as well as regulating the new cryptocurrencies and ensuring consumer protection".


Mairead McGuinness (Ireland), currently Vice-President of the European Parliament, is now set to be confirmed as Commissioner in charge of Financial Services, Financial Stability and Capital Markets. Her appointment was approved with 583 in favour, 75 against and 37 abstentions.

The change of portfolio for Commission Executive Vice-President Valdis Dombrovskis (Latvia) was approved with 515 in favour, 110 against and 70 abstentions. He is now in charge of Trade.

"I will be focusing on a wide range of issues and ensuring financial stability in these difficult times, with the Covid-19 pandemic. European Commission President Ursula von der Leyen has tasked me with advancing the Banking Union, the Capital Markets Union and Sustainable Finance.

"This portfolio reaches out to all policy areas in the European Commission, as we strive for a more sustainable economy and society, and meet the challenge of climate change and biodiversity loss.

"Tackling money laundering will also be a core part of the work programme I will be dealing with, as well as regulating the new cryptocurrencies and ensuring consumer protection", she said.

The reshuffle at the European Commission comes after Trade Commissioner Phil Hogan resigned at the end of August.

Both candidates had to undergo three-hour public hearings in the European Parliament on 2 October so that MEPs could evaluate their competencies with regard to their respective portfolios.
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