| Author (Corporate) | United Kingdom: Department for Exiting the European Union |
|---|---|
| Publisher | GOV.UK |
| Series Title | Policy Paper |
| Series Details | August 2018 |
| Publication Date | August 2018 |
| Content Type | Report |
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The United Kingdom Government issued a Policy Paper called 'Framework for the UK-EU partnership: Financial Services' on the 20 August 2018. The paper was part of a series produced by the UK negotiating team for discussion with the EU, in order to inform the development of the future framework, following it publication of a White Paper The future relationship between the United Kingdom and the European Union on the 12 July 2018. It focused on the UK’s proposals for financial services. Once the UK left the EU, it would maintain strong and appropriate regulation the sector, given the exposure of th UKr economy to the fiscal risk it represented. The UK hosted the world’s most significant financial centre, with markets and products that were often very different from what was found elsewhere in the EU. These differences meant that Further information The UK Government published on the 12 July 2018 its much anticipated White Paper The future relationship between the United Kingdom and the European Union. The Government said that it was advancing a detailed proposal for a principled and practical Brexit. While setting out plans for a UK-EU free trade area for goods, it proposed greater divergence in services. In the section dealing with financial services the White Paper said that the UK would propose a new economic and regulatory arrangement with the EU in financial services. The government suggested that it would seek a system of regulatory equivalence, rather than the previously preferred mutual recognition arrangement. Passporting was not possible. The City of London and others in the world of financial services had responded negatively to the proposals. |
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| Source Link | Link to Main Source https://www.gov.uk/government/publications/framework-for-the-uk-eu-partnership-financial-services |
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| Subject Categories | Business and Industry |
| Countries / Regions | United Kingdom |
