Treasury launches fresh inquiry into post-Brexit financial regulation as UK enters 'uncharted waters'

Converge or diverge

The Treasury Select Committee has launched a new inquiry into the future of the UK's financial services once it has left the European Union.

The inquiry will look into the potential impact of whether the UK converges, diverges or seeks equivalence with the EU once it leaves on 29 March. Furthermore, it will also seek to conclude whether it is in the long-term interests of the UK to align closely with EU financial regulation or to move away and pursue trade with other third countries. This also includes judging whether the UK should maintain current regulatory barriers that apply to these countries. The financial services sector has had a say on the UK's future regulatory relationship with the EU along with ministers, re...