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As part of our sector-focused series, we have curated the key resources and points you need to know from the last quarter’s legal updates. Understand the key news stories, practice notes, timelines and upcoming webinars specific to the Financial Services sector.
MLex: Banks, asset managers and insurers are hoping that a renewed effort to avoid what they complain is a patchy, politically driven regime for access to EU markets after Brexit will this time be successful. Given the choice between an equivalence regime and nothing, they may well opt for the latter—and they may have the leverage to make it work.
Banks, asset managers and insurers are hoping that a renewed effort to avoid what they complain is a patchy, politically driven regime for access to EU markets after Brexit will this time be successful.
1. FCA director discusses the future of financial services regulation
The executive director of international at the FCA, Nausicaa Delfas, gave a speech at the UK Financial Services Industry Beyond Brexit Summit in London on the future of financial services regulation in the UK. Delfas said that the FCA will continue to work closely with its EU counterparts after Brexit and that it will continue its activity in support of the development of sound international standards, rooted in strong regulatory co-operation.
For further information, see: LNB News 29/10/2019 25.
2. Brexit Bulletin―EU agrees to extend Article 50 withdrawal period until 31 January 2020
On 28 October 2019, the EU27 Ambassadors reconvened to consider the UK’s request to extend the Article 50 withdrawal period until 31 January 2020. Following extended talks, European Council President Donald Tusk announced the EU27’s provisional approval for an extension until 31 January 2020. According to the announcement, the extension will be granted on flexible terms, so that the extended withdrawal
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