The House of Commons Library has published a useful report setting out what key actors in the UK and EU have said on the scope and conditions for the Brexit transition period. Firms across the financial services sector are paying keen attention to these pronouncements, as the details of the transition period (and, indeed, any ultimate Brexit deal) will be key to UK firms' continued ability to access EU markets.

{This paper outlines what the actors on the EU and UK sides have been saying about the scope of and conditions for a transition period, in which the UK will no longer be an EU Member State but will apply and adhere to the EU acquis as if it were a Member State.