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Welcome to the weekly Financial Services highlights from the Financial Services team for the week ending 16 November 2017.
The government confirmed that Parliament will get to vote on the final deal put in place for Brexit before the UK leaves the EU. Speaking to MPs, the Secretary of State for Exiting the European Union David Davis outlined plans for a Withdrawal Agreement and Implementation Bill which is expected to cover issues including an agreement on citizens’ rights, the financial settlement and any implementation period agreed during the negotiations. Mr Davis said the Bill means the ‘major polices will be directly implemented into domestic law by primary legislation—not by secondary legislation under the EU (Withdrawal) Bill’—to allow for Parliamentary scrutiny and oversight.
At a speech given at UBS, the secretary of state for exiting the European Union, David Davis, provided some insights into what the UK government is doing in its Brexit negotiations to maintain the City of London's position as the world's leading financial centre. He maintains that it is in the interests of both the UK and the EU to do so.
The House of Lords EU Financial Affairs sub-committee continued its inquiry into financial regulation and supervision post-Brexit by taking oral evidence from representative of the banking, insurance and FinTech industries.
The Council of the EU published a list of FAQs relating to the relocation of the European Medicines Agency (EMA)
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