Weekly highlights—13 July 2017

Weekly highlights—13 July 2017

Welcome to the weekly Financial Services highlights from the Financial Services team for the week ending 13 July 2017.

Brexit

House of Commons Library publishes report on Brexit and financial services

The House of Commons Library published a briefing paper bringing together responses from financial organisations about the impact of the UK’s vote to leave the EU. The paper says that the decision to leave the EU will have significant implications for the financial services sector, which is of especial importance to the UK economy.

FCA CEO on Brexit and its impact on financial services

The chief executive of the Financial Conduct Authority (FCA), Andrew Bailey, delivered a speech at a Reuters Newsmaker event in London. Mr Bailey gave an update on the FCA's work on Brexit and its impact on financial services. Mr Bailey also addressed open markets in financial services, freedom of location and free trade as being important to the functioning of the global economy.

CBI calls for UK to stay in single market until EU deal finalised

The Confederation of British Industry (CBI) called on negotiators on both sides of the UK-EU talks to agree transitional arrangements as soon as possible, in order provide firms with continuity and certainty, and protect jobs and trade flows. The CBI has proposed that the UK seeks to stay inside the EU single market and a customs union until a final deal is in force.

Bank of England updates

Bank of England publishes its 2017 annual report and accounts

The Bank of England (BoE) published its annual report and accounts for 2017. Highlights from the past year include implementation of the BoE's One Bank strategy and

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About the author:
Prior to joining LexisNexis in 2016 as a paralegal, Lauren was an adjudicator at the Financial Ombudsman Service. There she resolved consumers’ complaints, and gained knowledge about a wide variety of financial products. Before this she studied Law at Nottingham Trent University.