New Lords inquiry into impact of Brexit on UK-EU financial services

The committee will explore the impact so far on the UK financial services sector following the UK’s exit from the Single Market; the impact of the absence of a functioning framework for UK-EU regulatory cooperation; the future of cross-border financial services in the absence of equivalence; and the impact of regulatory divergence and agreements with third countries on UK-EU financial services trade.

In the first evidence session the Committee will hear evidence from:

• Miles Celic, Chief Executive at The CityUK
• Dr Gerard Lyons, Senior Fellow at Policy Exchange, and Chief Economic Strategist at Netwealth
• Rachel Kent, Partner, Head at Financial Institutions Group, Hogan Lovells

The session will take place at 4.00pm on Tuesday 8 February in Committee Room 4 and can be viewed live on Parliament TV.

Areas the Committee will cover with the witnesses include

• The impact of Brexit so far on the UK financial services sector, workforce and jobs
• Which EU cities are best placed to challenge London’s dominance as the EU’s financial hub
• The future of financial services trade with the EU in the absence of equivalence
• The impact regulatory divergence is likely to have on UK-EU financial services trade
• The areas of the financial services sector that offer the greatest opportunities to drive growth following Brexit.