Government responds on UK/EU FS dialogue

The Government has published its response to the House of Lords’ European Affairs Committee report on the UK-EU relationship in financial services. In the main, it is pleased with the Committee’s findings, and stresses that the lack of current equivalence decisions from the EU is not a problem.  It remains open, it says, to negotiations and to signing an MoU and in the meantime the UK financial services sector remains strong and the Government is taking the opportunity of the FSM Bill and the review of the Future Regulatory Framework to shape UK law and regulation in a way that works best for UK firms.