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