The House of Lords’ EU Financial Affairs Sub-Committee has started an inquiry into Brexit and financial services in the UK. The inquiry begins with two evidence sessions focussing on the consequences of the referendum result for financial services and potential future arrangements.
Possible questions that witnesses are likely to give evidence on are:
- the reaction of financial services firms to the outcome of the EU referendum result;
- the possibility of relocation of financial services firms from the UK;
- critical priorities for the UK financial services sector in both 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 cooperation 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 the financial passport for firms operating in the UK;
- risks for retail customers and investors; and
- considerations for non-EU firms wishing to gain access to the EU via the EU’s equivalence regime.
View Academics and experts give evidence on Brexit and financial services, 31 August 2016