The House of Lords EU Financial Affairs Committee has written to Rishi Sunak urging the government to set up a structured dialogue with the EU that will support cross-border financial services. It wants:
- to minimise the chances of equivalence decisions being politicised;
- regulators to have more delegated powers, so they can act quickly and have the flexibility to do so; and
- for the UK to be a leader in international standards, which could facilitate any targeted adjustments it may wish to make to regulation post-Brexit.