The European Parliament has published a briefing note, Brexit: the United Kingdom and EU financial services. The briefing note describes the role of the UK in the Single Market for financial services, and highlights which activities rely on passporting. The briefing note uses publicly available information such as analytical papers prepared by research institutes and private sector companies.
The European Parliament has also published a briefing note, Third country equivalence in EU banking legislation. The briefing note focuses on the concept of equivalence in EU banking legislation and the difference between passporting rights and third country equivalence rights. It provides an overview of existing equivalence clauses in some key EU banking and financial legislation and of equivalence decisions adopted by the European Commission to date.
The House of Commons’ Treasury Committee has issued a call for written submissions on transitional arrangements. Transitional arrangements refer to any arrangement that takes effect between the point at which the UK formally leaves the EU (two years after a notification is made under Article 50(2), assuming no extension under Article 50(3)), and the point at which the UK’s final, settled relationship with the EU becomes effective.
View Brexit: the United Kingdom and EU financial services, 12 December 2016
View Third country equivalence in EU banking legislation, 12 December 2016
View Commons Select Committee – EU exit and transitional arrangements, 12 December 2016