Ms Catherine Langlais (NYSE-Euronext) and Mr Gilles Aupin, (Louis Capital Markets), new members of the Board.

The European Commission is consulting on how to improve the supervision of financial services. This follows the publication at end-February 2009 of the Larosière Group report on financial supervision in the European Union and a Communication in early March, "Driving the European Recovery", in which the Commission approved the Group ' s fundamental principles and urged European leaders to do likewise.

The issue of pay in the financial industry has recently been addressed not only by the G20 but also at European and domestic levels.

From the outset, the crisis has underscored the need to prevent systemic risk and respond to concerns about the solvency of financial institutions. One of the key issues is the creation of a clearinghouse for credit derivatives, in particular credit default swaps (CDS).