Treasury Secretary letter on equivalence in financial services

The Cabinet Office has published a letter, dated 23 April 2020, from John Glen (Economic Secretary to the Treasury) to William Cash (Chair of the European Scrutiny Committee) outlining the government’s intentions with regard to equivalence in financial services under the future UK-EU economic partnership. Mr Glen confirms that the government will be seeking regulatory … Read more

New Brexit Legal Guide section available: Banking and Investment Firms

The updated Banking and Investment Firms section of our Brexit Legal Guide is now available. This provides a useful overview, amongst other things, as to whether: during the transition period, passporting rights between the UK and the EEA for banking and investment firms and financial products will continue to apply; during the transition period, the UK and the EU … Read more

Brexit asset management update

The European Parliament has published a resolution on the proposed mandate for negotiations for a new partnership with the UK. The resolution will be submitted to the Council and the Commission, as well as the governments and parliaments of Member States and the UK. Read more

Brexit Asset Management Update

In this post we summarise the latest Brexit developments related to asset management. FCA updates on Brexit implementation period The FCA has published information to assist firms during the Brexit implementation period, which is due to run from 11pm on 31 January 2020 until 31 December 2020, and during which EU law will continue to … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. DExEU letter on UK-EU equivalence in financial services The Department for Exiting the European Union (DExEu) has published a letter dated 27 January 2020 from John Glen, Economic Secretary to HM Treasury, to Lord Kinnoull, Chair of the House of Lords European Union … Read more

Temporary Equivalence Decision for UK CCPs to be renewed

The post below was first published on our FSR and Corporate Crime blog European Commission Vice President Valdis Dombrovskis announced in a speech at the Guildhall in London last week that, ‘as the risk to financial stability has not yet been fully removed, because industry has not so far fully prepared’, he intends to renew … Read more

Brexit Asset Management Update

The post below summarises the latest Brexit developments related to asset management. EU Exit: PRA statement on ACPR response to EIOPA recommendations for insurance sector The PRA has issued a statement regarding French regulator Autorité de contrôle prudentiel et de résolution’s (ACPR) response to the European Insurance and Occupational Pensions Authority’s (EIOPA) recommendations for the insurance sector in light of the … Read more