Weekly highlights—6 September 2018

Weekly highlights—6 September 2018

Welcome tothe weekly Financial Services highlights from the Financial Services team for the week ending 6 September 2018.

Brexit

HM Treasury updates programme of secondary financial services legislation under the EU (Withdrawal) Act 2018

HM Treasury's programme of secondary legislation to ensure that the UK continues tohave a functioning financial services regulatory regime in all scenarios, when the UK leaves the EU in March 2019, been updated with: 'Draft Payments and electronic money (Amendment) (EU Exit) Regulations' and 'The Credit Transfers and Direct Debits in Euro (Amendment) (EU Exit) Regulations 2018'.

Dominic Raab MP questioned by House of Lords EU Committee on progress of Brexit negotiations

The Secretary of State for Exiting the European Union, Dominic Raab MP, appeared before the House of Lords EU Committee on 29 August 2018 todiscuss the progress of Brexit negotiations, including negotiations relating tofinancial services. He considered that the financial sector reacted positively tothe government's Brexit white paper, dismissed concerns that the EU is treating Brexit as an opportunity toattract key areas of financial services from London, and is confident that the UK will reach a 'sensible solution' with the EU on financial services. He noted the possibility that Brexit negotiations may 'creep beyond' the 18 October EU Summit.

TheCityUK report on UK-EU association agreement and future UK free trade agreements

​TheCityUK published a report, produced in collaboration with DLA Piper, entitled 'A UK-EU association agreement and future UK free trade agreements'. The report examines what a deal based on the government's Brexit white paper will mean for the broader interests of the financial and related professional services industry.

ECON report on relationships between the EU and third countries concerning financial services regulation and supervision

The European Parliament's Committee on Economic and Monetary Affairs

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About the author:

Chris is a member of the New York Bar with more than two decades of experience as a financial services and capital markets lawyer in London. Before joining LexisNexis in 2016, Chris worked as a Senior Professional Support Lawyer at Linklaters LLP, supporting the firm’s market-leading Financial Regulation Group, with a particular focus on MiFID II. Chris also worked as Legal Analyst at Bloomberg, where he drafted analytical articles on EU, UK and US financial services law and regulation for Bloomberg journals and developed practical guidance content for the award-winning Bloomberg LAW legal research platform. Prior to that, Chris was a partner in the U.S. law group at Allen & Overy, advising issuers and underwriters on a wide range of capital markets and corporate finance transactions including SEC-registered and Rule 144A debt and equity offerings and mergers and acquisitions, as well as providing general U.S. securities law advice. He also co-founded the firm’s Microfinance Working Group and advised on a variety of matters including two landmark securitisations of loans to microfinance institutions.

Chris has written extensively on legal and regulatory issues for numerous publications and lectured on financial regulation, microfinance and capital markets.