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Brexit: what perspectives for EU-UK relations and their financial sectors?

Day 1 Morning

Wednesday 08 September

Room :

Plenary Room 1


David Wright
President - EUROFI
Public Authorities
John Berrigan
Director-General, DG FISMA - European Commission
Natasha Cazenave
Executive Director - European Securities and Markets Authority (ESMA)
Richard Knox
Deputy Director for Securities and Markets - HM Treasury

The first part of this session will be devoted to discussing the state of play of EU-UK financial relations, the risk of increasing regulatory divergence between the EU and UK, the prospects for eventual EU-UK equivalence arrangements and the conditions needed for these to happen. 

In the second part the panel will discuss the EU and UK financial services strategies in a post-Brexit world, the most likely scenarios and the role that EU-UK relations are expected to play. 

Points of discussion

  1. Have EU-UK financial services relations made any progress since 1/1/2021? Is a tolerable level of divergence between EU and UK possible concomitant with the conclusion of equivalence agreements? What are the conditions for ensuring this? Do EU financial services third-country policies need further refinement and precision in order to adapt them better to the EU-UK context and can this be done without weakening financial stability?
  2. How are the EU and UK strategies for financial services expected to evolve in the post-Brexit world and what are the likely medium term scenarios for the EU and UK financial strategies? What does EU financial autonomy really mean? What role are financial relations between the EU and the UK expected to play in this context going forward?