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Welcome to the weekly Financial Services highlights from the Lexis®PSL Financial Services team for the week ending 13 October 2016.
On 6 October 2016, it was announced that the House of Lords Select Committee on EU financial affairs would meet on 12 October 2016 with Deputy Bank of England (BoE) Governor for Financial Stability, Sir John Cunliffe, and financial representatives in attendance to discuss Brexit. The Committee would take further evidence for its inquiry ‘Brexit: financial services’, on the impact of the referendum result on financial services and the options for a future relationship between the UK and the EU.
On 6 October 2016, a survey was published by the British Private Equity and Venture Capital Association (BVCA), looking at economic optimism post-Brexit, business concerns and company perspectives on the EU. Private equity and venture capital firms are optimistic they can adapt to life outside the EU, the survey found.
On 7 October 2016, the House of Lords EU Internal Market Sub-Committee launched a short inquiry into the trade in services between the UK and the EU after Brexit. The Committee will examine what market access key service sectors in the UK would like to have with the EU. The inquiry begins with a public meeting on 20 October 2016.
On 11 October 2016, HM Treasury announced that maintaining the UK’s status as one of the best financial centres in the world is a key priority for the government post-Brexit. Giving a speech at the UK Financial Services Brexit Summit in London, City
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