FS News Brief—18 March 2019

FS News Brief—18 March 2019

Welcome to the third bulletin of the LexisPSL Financial Services 'News Brief'. This weekly update gives you a quick insight into some of the most important regulatory developments from the past week, and highlights some of the news stories that may have gone under your radar. 

See our full and comprehensive round up of the weeks regulatory developments in our Weekly Highlights, here.


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Spring Statement 2019: Chancellor makes key financial services announcements

The chancellor of the exchequer, Philip Hammond, delivered the 2019 Spring Statement. In it, Mr Hammond made two financial services announcements that form part of the government's work to ensure the UK remains an open and competitive place to do business. The announcements relate to financial services legislation (the government will legislate as necessary to ensure that in the immediate period after the UK leaves the EU, the UK can maintain world-leading financial services regulatory standards) and the future financial services regulatory framework ( the government will set out its approach to consulting on how to ensure the UK financial services regulatory framework adapts to its new constitutional position outside the EU).

Treasury Committee publishes Brexit preparations correspondence

The Treasury Committee published letters it received from the Secretary of State for Exiting the European Union, Steve Barclay MP, and from the Permanent Secretary to HMT, Tom Scholar, discussing the UK’s EU departure negotiations, dealing with specific queries raised by the Committee, and detailing the government and civil service preparations for various Brexit scenarios.

FCA review of the debt management sector

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About the author:
Prior to joining LexisNexis in 2018, Raphael carried out work placements at Willkie, Farr & Gallagher (sat in Debt Finance) and Macfarlanes (sat in Banking and Finance), through which he was able to gain knowledge about a wide variety of financial products and services. Raphael recently graduated in Law from King’s College London where he took a particular interest in modules such as Finance, Credit & Security and Transnational Company Law. Raphael has also worked as a Paralegal at Axiom Stone Solicitors in Mayfair, where he was involved in a wide range of contentious matters.