UK:
House Of Lords EU Committee Launches Inquiry Into Brexit And Financial Services
To print this article, all you need is to be registered or login on Mondaq.com.
On August 31, 2016, the House of Lords EU Sub-Committee on
Financial Affairs published a webpage announcing the launch of an inquiry
into Brexit and financial services in the UK. The Sub-Committee
will begin its inquiry with two evidence sessions concentrating on
the consequences of the referendum result for financial services
and potential future arrangements.
The issues to be considered by the inquiry are as follows:
- The reaction of financial services
firms to the outcome of the EU referendum result
- The possibility of the relocation of
financial services firms from the UK
- Priorities for the UK financial
services sector in the withdrawal negotiations and in negotiating a
future relationship for the UK with the EU
- Equivalence rights to access the EU
single market for the UK
- Financial regulatory co-operation
between the UK and the EU under different models of EU
membership
- A potential free trade agreement and
the UK's financial sector
- Potential transitional
arrangements
- The importance of passporting rights
for firms operating in the UK
- Risks for retail customers and
investors
- Considerations for non-EU firms
wishing to gain access to the EU through the EU's equivalence
regime
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Finance and Banking from UK
Asset Recovery Comparative Guide
Bird & Bird
Asset Recovery Comparative Guide for the jurisdiction of UK, check out our comparative guides section to compare across multiple countries
Q&A: Safe Harbours For VASPs - Part 1
Ogier
Asian Legal Business was keen to hear from our experts on how this will allow virtual asset services providers (VASPs) to anchor in theses jurisdictions, despite increased regulatory burdens...
Q&A: Safe Harbours For VASPs - Part 2
Ogier
In 2023, Jersey and the British Virgin Islands passed legislation indicating they were welcoming virtual asset service providers, joining the likes of the Cayman Islands...
CRD VI And Its Impact On Lending Into Europe
Cadwalader, Wickersham & Taft LLP
December 2023 saw the publication by the EU of the near-final version of its ‘Banking Package' that makes significant changes to the Capital Requirements Directive known as ‘CRD VI'.
Financial Promotion Exemptions – UK Government U-Turn
Shepherd and Wedderburn LLP
In response to criticism, the UK Government announced in the 2024 Spring Budget that recent changes to the financial promotion exemptions eligibility criteria would be partially reversed from 27 March 2024.