Weekly highlights—5 April 2018

Weekly highlights—5 April 2018

Welcome to the weekly Financial Services highlights from the Financial Services team for the week ending 5 April 2018.

Brexit

House of Commons Exiting the EU Committee publishes future UK-EU relationship report

The House of Commons Exiting the European Union Committee published a report on the future UK-EU relationship. The key recommendations in the report are that Britain should consider European Free Trade Association (EFTA) or European Economic Area (EEA) membership if Theresa May's final negotiations on Brexit do not satisfy 15 key tests set out in the report.

Government responds to Lords committee’s report on financial services post-Brexit

The government responded to the House of Lords EU Financial Affairs Sub-Committee’s report, ‘Brexit: the future of financial regulation and supervision,’ which was published on 27 January 2018. The government says it is seeking an ambitious economic partnership with the EU on financial services, which will give UK firms access to the EU market, and EU investors access to the UK market. In part, this includes securing an implementation period that will enable firms to make only one set of changes and avoid any cliff-edge risks.

AFME welcomes Bank of England update on approach to Brexit preparations for banks

The Association for Financial Markets in Europe (AFME) issued a press release welcoming the Bank of England's (BoE) update on its approach to Brexit preparations for banks.

Prudential Regulation Authority updates

PRA regulatory digest for March 2018

The Prudential Regulation Authority (PRA) published its regulatory digest for March 2018. This issue includes an update on the PRA's regulatory approach to preparations for EU withdrawal. It highlights the 28 March 2018 letter from the PRA's deputy governor and CEO, Sam

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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.