Weekly highlights—13 September 2018

Weekly highlights—13 September 2018

Welcome to the weekly Financial Services highlights from the Financial Services team for the week ending 13 September 2018.


EEA Passport Rights (Amendment, etc, and Transitional Provisions) (EU Exit) Regulations 2018

SI 2018/Draft: This draft enactment is laid in exercise of legislative powers under the European Union (Withdrawal) Act 2018 in preparation for Brexit. This draft enactment proposes repeals and amendments to address deficiencies in retained EU law in relation to the European Economic Area’s (EEA) ‘financial service passport’ which allows firms in EEA states to offer services in any other EEA state on the basis of their home state authorisation which arise from the withdrawal of the UK from the EU.

Andrew Bailey makes case for UK/EU equivalence post-Brexit

The Financial Conduct Authority (FCA) published a speech by its CEO, Andrew Bailey, on multilateralism and global co-ordination, making the case for balancing autonomy and co-operation in the interests of financial markets. Speaking at the Eurofi Financial Forum in Vienna, Mr Bailey stressed the importance of keeping the Single Market open to the UK and other third countries post-Brexit.

Financial Conduct Authority updates

Andrew Bailey discusses FCA’s work at its annual public meeting

The CEO of the FCA, Andrew Bailey, gave a wide-ranging speech at the FCA’s annual public meeting for 2018. Mr Bailey said the balance of the risks the FCA has to tackle has shifted towards operational risks, including resilience, technological change and financial crime. He also discussed the FCA’s work on Brexit, and ongoing issues including RBS’s Global Restructuring Group, HBOS and Connaught.

The FCA publishes Charles Randell speech at the annual public meeting 2018

The FCA published a 

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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.