Weekly highlights—25 January 2018

Weekly highlights—25 January 2018

Welcome to the weekly Financial Services highlights from the Financial Services team for the week ending 25 January 2018.

Brexit

Brexit: AFME paper on key cliff-edge risks in wholesale financial services

The Association for Financial Markets in Europe (AFME) published a paper highlighting potential cliff-edge risks that Brexit could create for market efficiency and financial stability in wholesale financial services. The paper focuses on issues which may require intervention from policymakers and regulators in the UK and EU27.

BoE evidence to House of Lords EU Financial Affairs sub-committee inquiry into financial regulation and supervision following Brexit

The House of Lords EU Financial Affairs Sub-Committee published the transcript of oral evidence given by Bank of England (BoE) officials at an evidence session on 1 November 2017 held as part of its inquiry into financial regulation and supervision following Brexit.

FIA announces three Brexit working groups

The Futures Industry Association (FIA) launched three new Brexit working groups, via which FIA members can provide their direct input into FIA’s Brexit work. FIA aims to hold the first working group call for each group in early February 2018, and will circulate agendas in due course. Each working group will be chaired by FIA’s head of Europe, Simon Puleston Jones, and will operate under the direction of the FIA board’s Brexit working group.

Nicky Morgan calls for ‘a clear sense of direction’ for UK FS firms post-Brexit

The chair of the Treasury Select Committee, Nicky Morgan MP, commented on reports that the government may never publish a position paper on the future of financial services after Brexit, saying failure to publish ‘sends all the wrong signals’. Ms Morgan said financial services will

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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.