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The optimal approach to third-country EU market access post-Brexit

Day 1 Afternoon

Wednesday 03 April

Room :

Grand Ballroom - Roundtable


David Wright
President, EUROFI
Public Authorities
Katharine Braddick
Director General, Financial Services, HM Treasury
Levin Holle
Director General, Financial Markets Policy, Federal Ministry of Finance, Germany
Steven Maijoor
Chair, ESMA
Felicia Stanescu
Head of Policy Definition and Coordination, DG FISMA, European Commission
Industry Representatives
Sylvie Matherat
Chief Regulatory Officer & Member of the Management Board, Deutsche Bank AG
Dermot McDonogh
Chief Operating Officer for EMEA, Goldman Sachs International
Simon Miller
Managing Director, Head of Legal and Compliance, Mizuho Bank Ltd
Bruce R. Thompson
Vice Chairman, Bank of America
Other stakeholder & expert
Christian Noyer
Honorary Governor, Banque de France

Objectives of the session

This roundtable will discuss existing EU third-country market access regimes, the issues they raise in the specific case of the UK and to what extent they could need improving to facilitate EU access from the UK post-Brexit. The panel will also assess how these regimes may be improved without threatening the sanctity of the single market or financial stability and whether alternative approaches exist.

Points of discussion

What are the positive features and limitations of existing EU equivalence regimes in the financial sector in terms of access, risk mitigation and the assessment process? Do existing EU equivalence regimes have specific shortcomings or limitations concerning the UK financial sector?

How important is the improvement of third-country access rules for the EU and UK financial sectors and the EU economy post-Brexit? Can existing EU equivalence regimes be improved without putting financial stability at risk and will transitional arrangements leave enough time for improvements to be made? Will erga omnes trade requirements restrict EU options for making equivalence mechanisms work better? Are there alternative approaches worth considering to support access to the EU market from the UK post-Brexit?