City Minister to give evidence on financial services after Brexit to Lords EU Committee

On Monday 30 November 2020 the House of Lords EU Services Sub-Committee will be taking evidence from John Glen MP, Economic Secretary and City Minister, HM Treasury.

He will be joined by Katharine Braddick, Director General of Financial Services, HM Treasury.

This session will take evidence on financial services after Brexit. It will be held remotely and streamed on Parliament TV.

Questions the committee is likely to ask include:

• What progress has been made in the negotiations with the EU on financial services in recent months?
• Will the UK’s decision to unilaterally publish its positive equivalence assessments in a number of key areas prompt the EU to publish its equivalence determinations?
• The European Commission granted an extension of equivalence for UK central counterparties and may grant one for central securities depositories. What are the most important areas for positive EU equivalence decisions?
• Has the EU’s stance on equivalence been politicised and influenced by the broader future relationship negotiations? Is it plausible that any areas of UK financial services not granted equivalence before the end of the transition period could be granted equivalence in 2021?
• Has the EU’s approach to equivalence led the Government to seek more regulatory divergence on financial services than you earlier anticipated?
• How will Parliament scrutinise financial regulators under the Government’s plans to delegate more power to the regulators?
• What progress has been made in building closer relationships with other third countries in financial services?