Global Financial Regulatory Blog

Tag Archives: post-Brexit

UK Chancellor Outlines Future for Financial Services Post-Brexit

Equivalence decisions for EEA states, green finance and fintech initiatives are at the forefront of the UK government’s priorities. By Rob Moulton, Anne Mainwaring, and Anna Lewis-Martinez On 9 November 2020, the UK Chancellor of the Exchequer, Rishi Sunak, delivered a statement setting out plans for the start of a new chapter for UK financial … Continue Reading

ESMA’s STO Guidance Aims to Limit Post-Brexit Disruption

However, ESMA’s proposed changes are less sweeping than required to achieve this aim. By Rob Moulton and Anne Mainwaring Should the Brexit transition period end without a UK equivalence decision, ESMA has issued guidance to limit the impact on the trading obligation for shares by assuming the following: — All EU shares (EU Member State, … Continue Reading

UK Decides Against Implementing Certain Key Areas of EU Financial Services Legislation

The UK government clarifies its legislative plans for financial services regulatory reforms post-Brexit. By Rob Moulton and Anna Lewis-Martinez On 23 June 2020, the House of Commons published a written statement from Rishi Sunak, Chancellor of the Exchequer, on the UK’s approach to implementing financial services regulatory reforms before the end of the Brexit transition … Continue Reading

UK Delays Decision on Adopting EU Sustainable Finance Taxonomy

The delay may complicate the regulatory landscape for sustainable finance as the EU moves toward a standardized classification system.  By Paul A. Davies, Nicola Higgs, and Michael D. Green The UK government (government) has delayed a decision on whether it will adopt the EU’s taxonomy of sustainable finance activities (the Taxonomy) as the UK approaches the end of … Continue Reading

PSD2 & Brexit: EU Card Issuers Must Apply SCA to UK Website Purchases Post-Brexit

European Commission confirms SCA measures should apply to EU consumers purchasing from UK websites in the event of a no-deal Brexit. By Christian F. McDermott, Jagveen S. Tyndall, and Amy Smyth Complex payment processing chains comprise multiple entities operating behind the scenes to support everyday transactions. The strong customer authentication (SCA) requirements introduced by the … Continue Reading
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