Clearing Houses give evidence on Brexit financial regulation and supervision

Money moving through cogs and wheels
25 October 2017

On Wednesday 25 October 2017, the EU Financial Affairs Sub-Committee takes evidence from the UK's Central Counterparty (CCP) sector, regarding Brexit.


Wednesday 25 October 2017 in Committee Room 4A, Palace of Westminster.

At 10:15am:

  • Simon Puleston Jones, Head of Europe, FIA
  • Daniel Maguire, Chief Executive Officer, The London Clearing House (LCH)

Areas of discussion

The Committee is examining how financial regulation and supervision can evolve following Brexit in order to ensure financial stability, and potentially to maintain equivalence or some other form of close relationship between the UK and EU regulatory regimes in order to preserve market access.

Questions the Committee are likely to ask include:

  • How well does the EU's existing regime work for UK CCPs and derivatives traders?
  • What is the scope of existing equivalence provisions as they relate to CCPs? How aligned are the views of CCPs with the rest of the industry?
  • How will the potential for a contractual 'cliff edge' affect the futures industry if grandfathering is not agreed?
  • How can the UK best continue to pursue an international engagement strategy on derivatives regulation?
  • Does the experience of the US CCP equivalence agreement offer any lessons for the UK as a future third country?
  • What role may EU supervisors play post-Brexit in managing cross-border institutions?

Further information

Image: iStockphoto

More news on: Parliament, government and politics, Parliament, European Union, Economic and monetary union, House of Lords news, Lords news, Committee news, Exiting the European Union

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