Parliament launches post-Brexit regulatory divergence inquiry

The European Scrutiny Committee has launched an inquiry looking at the benefits and challenges to business and the UK economy of diverging from EU regulation that was copied into UK law post-Brexit. Financial services is one of the areas that will receive special attention as part of the inquiry. The Committee has asked a number of questions to which it welcomes responses by 22 July. The questions include:

• how did EU membership constrain the UK’s regulatory autonomy?
• how can the UK now regulate differently?
• are there restrictions on the UK’s regulatory autonomy because of the Withdrawal Agreement and the Trade and Cooperation Agreement?
• where and how should the UK diverge from EU rules? and
• are there any specific retained EU laws that should be kept?