LORDS

City organisations questioned on EU/US investment partnership

05 December 2013

The financial services sector comes under special scrutiny this Thursday by the Lords Committee investigating the ground-breaking trade deal between the EU and the US

Witnesses

Thursday 5 December, Committee Room 1, Palace of Westminster

At 10.35 am

  • Gary Campkin, Director, International Strategy, TheCityUK
  • Alastair Evans, Head of Government Affairs, Lloyd’s Insurance

At 11.30 am

  • David Lawton, Director of Markets, Financial Conduct Authority

Background

The Lords Committee is holding an inquiry to look at the benefits, both to the EU and the UK, of the Transatlantic Trade and Investment Partnership (TTIP), which was launched earlier this year.

Possible questions

The House of Lords EU Sub-Committee on External Affairs is seeking different perspectives within the financial services sector, including TheCityUK, Lloyd’s Insurance and the Financial Conduct Authority, on whether trying to pin down an agreement on financial services regulation could derail the entire agreement. The position of the US on including financial services in the deal is in stark contrast to that of much of the EU.

Questions the witnesses will face include:

  • What arguments can the UK use to get financial services included?
  • What is needed to promote engagement and build trust between EU and US regulators?
  • What sort of regulatory dialogue is in place already between the EU and the US on financial services?
  • What would be wrong with allowing this dialogue to run its course on a parallel track outside the TTIP?
  • Could the broad portfolio of “financial services” be slimmed down to make it easier to push through?

Further information

Image: iStockphoto

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