Financial Services: UK Relations with EU
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the effectiveness of the Joint EU-UK Financial Regulatory Forum’s role in supporting cross-border investment between the UK and EU financial markets.
Answered by Lucy Rigby
Financial regulatory dialogues, including the Joint EU-UK Financial Regulatory Forum, are important in supporting cross-border trade in financial services and managing financial stability in the global financial system. They form a core part of the government’s approach to strengthening international partnerships, as set out in the Financial Services Growth and Competitiveness Strategy published in July.
Dialogues feed into HM Treasury’s development of international financial services policy and joint statements are typically published after meetings.
The most recent Joint EU-UK Financial Regulatory Forum was held in Brussels on Wednesday 1 October, where officials discussed bilateral cooperation on financial regulatory issues including capital market reforms, where the government’s long-term vision for the UK’s world-leading markets is to encourage more retail investment to benefit our citizens, support British businesses to grow and position ourselves for the future. Further details of the discussion can be found in the Joint Statement.
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