The uk-eu relationship in financial services

Document Outline

• TitlePage
• Summary
• Chapter 1: Introduction
  • This inquiry
    • Financial services in the UK
    • Brexit and financial services: a brief recap
    • What the trade data says
    • Job and business moves
      • Fragmentation of the EU financial services sector
    • Asset and infrastructure moves
    • UK Government policy for the future of financial services
• Chapter 2: Equivalence
  • Background
    • The state of play
      • UK equivalence decisions
      • EU equivalence decisions
    • Explaining the lack of EU equivalence decisions
    • The importance of EU equivalence decisions
      • The impact of the ‘imbalance’ in equivalence decisions between the UK and other third countries
• Chapter 3: Regulatory cooperation
  • Background: the UK-EU Memorandum of Understanding
    • The importance of the Memorandum of Understanding
    • Bilateral and multilateral cooperation between regulators
    • Political and diplomatic cooperation
• Chapter 4: Regulatory reform and divergence
  •  Onshoring of EU legislation
    • Box 1: The role of the UK regulators
    • The Future Regulatory Framework Review
    • A competitiveness objective
    • Scrutiny and accountability of regulators
    • Regulatory alignment and divergence
    • Table 1: Status of selected UK financial services regulatory reforms, May 2022
    • Planned UK regulatory reforms
      • The Listings Review
      • Wholesale Markets Review
      • Solvency II Review
    • Further UK-driven divergence
    • EU-driven divergence
    • International standards
    • Data adequacy
    • Box 2: Data adequacy explained
• Chapter 5: Opportunities
  • FinTech
    • Green finance
    • Approaches to securing market access
    • The labour market
    • The importance of openness
• Summary of conclusions and recommendations
• Appendix 1: List of Members and declarations of interest
• Appendix 2: List of witnesses