Following a cabinet meeting this week, the Prime Minister, Theresa May, confirmed that the UK government would push ahead with Brexit without Parliamentary approval, but that official talks with the rest of the EU would not begin this year. She also warned that the UK would not stay in the EU ‘by the back door’. Meanwhile, the House of Lords has launched an inquiry into Brexit and financial services in the UK. The issues that the inquiry is likely to consider could include: the reaction of financial services firms to the outcome of the EU referendum result, the possibility of the relocation of financial services firms from the UK, priorities for the UK financial services sector in the withdrawal negotiations and in negotiating a future relationship for the UK with the EU, equivalence rights to access the EU single market for the UK, financial regulatory co-operation between the UK and the EU under different models of EU membership, a potential free trade agreement and the UK's financial sector, potential transitional arrangements, the importance of passporting rights for firms operating in the UK and considerations for non-EU firms wishing to gain access to the EU through the EU’s equivalence regime.