The impact of separation on financial services in Scotland

26 February 2014

The Scottish Affairs Committee will take evidence on the risks and impact of Separation from the UK on financial services on Wednesday 26 February 2014.


Wednesday 26 February 2014, Committee Room 8

At 2.30pm

  • Owen Kelly, Chief Executive, Scottish Financial Enterprise
  • Iain MacNeil, Alexander Stone Chair of Commercial Law, University of Glasgow

At 3.30pm

  • Mark Neale, Chief Executive, FSCS
  • Sean Martin, General Counsel, Financial Conduct Authority

At 4.30pm:

  • Andrew Bailey, Chief Executive Officer, Prudential Regulation Authority

Timings are approximate

Purpose of the session

The session looks at the risks and impact of Separation from the UK on financial services  - such as banking and pensions  - and consumers in Scotland, especially in light of the Chancellor’s recent confirmation that the rest of the UK would not enter into a currency union with a Separate Scotland. The financial services sector in Scotland is very large: in the event of separation, the Scottish financial services industry would be over 1,000% of Scotland’s GDP.

Further information

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