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?