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Lords EU Committee to question City Minister on UK-EU negotiations on financial services

At 10am on Thursday 2 July 2020 the House of Lords EU Services Sub-Committee will be holding a follow-up evidence session on its inquiry into financial services after Brexit with the Economic Secretary to the Treasury and City Minister, John Glen MP.

Mr Glen will be joined by HMT's Director General for Financial Services, Katharine Braddick.

In March 2020, the House of Lords EU Financial Affairs Sub-Committee wrote to the Chancellor of the Exchequer, Rt Hon. Rishi Sunak MP, to urge the Government to establish a structured dialogue between the UK and the EU to support cross-border financial services and manage any future divergence.

Read the letter.

This session will be held remotely and streamed on Parliament TV.
Questions the Committee is likely to ask include:

  • What progress has been made in completing the UK-EU equivalence assessments?
  • When will the equivalence decisions be published? Could these be ffected by the broader UK-EU negotiations?
  • What form of UK-EU regulatory cooperation on financial services should there be?
  • How will the Government's plans to change certain financial services rules affect the negotiations?
  • Is there a risk that the EU will hold the UK to a higher standard than other countries in terms of equivalence?
  • Once the equivalence decisions are in place, what process and timeline should there be for withdrawing equivalence?

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