Potential Concepts for the Future EU-UK Relationship in Financial Services

Tutkimus 15-12-2016

This study assesses the key impacts of the United Kingdom’s exit from the European Union on the financial system and its infrastructures, on financial firms and financial services under three alternative concepts for the future EU-UK relationship. In addition to the impact on the ‘passporting rights’ of financial firms, particular emphasis is given to the impact on the regulatory framework governing i.a. credit institutions under a ‘third-country status’ scenario for the UK, the impact on payment systems and market infrastructures, as well as to certain aspects of the EU institutional framework governing the monetary and the financial system could be affected. This study was prepared by Policy Department A at the request of the ECON Committee.