The post below summarises the latest Brexit developments related to asset management.
DExEU letter on UK-EU equivalence in financial services
The Department for Exiting the European Union (DExEu) has published a letter dated 27 January 2020 from John Glen, Economic Secretary to HM Treasury, to Lord Kinnoull, Chair of the House of Lords European Union Committee, on UK-EU equivalence in the area of financial services. In his letter, Mr Glen reaffirms the UK and EU’s commitment to start assessing equivalence with respect to each other under existing frameworks as soon as possible and to endeavour to conclude these assessments before the end of June 2020. He also confirmed that the UK government has already engaged in discussions with a number of jurisdictions to ensure that there is regulatory continuity of financial services market access arrangements after EU exit.