Lords European Affairs Committee to hear evidence from Bank of England Deputy Governor
Friday 4 March 2022
On Monday 7 March the House of Lords European Affairs Committee will hear from Sir Jon Cunliffe, Deputy Governor for Financial Stability at the Bank of England, for the second evidence session of its inquiry into the UK-EU relationship in financial services.
Witnesses:
3pm
- Sir Jon Cunliffe, Deputy Governor for Financial Stability, at the Bank of England
The evidence session will take place at 3.00pm on Monday 7 March in Committee Room 4 and can be viewed live on Parliament TV.
Background:
The inquiry will examine the impact so far on the UK’s financial services sector of 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.
Topics likely to be covered in this evidence session include:
- The strengths and limitations of the Government’s current approach to post-Brexit regulation and divergence on financial services
- Whether equivalence is a strategy that remains worth pursuing
- What the Bank of England sees as the key future opportunities in the post-Brexit world, both in terms of different parts of the sector and different financial centres across the UK
- The Bank of England’s role in supporting the pursuit of these opportunities
- What the Bank of England sees as the best long-term strategy for UK-EU financial services trade.
