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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.
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).
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.
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