Dr. Christy Ann Petit (DCU Brexit Institute) and Prof. Thorsten Beck (European University Institute) prepared a study on “Recent trends in UK financial sector regulation and possible implications for the EU, including its approach to equivalence” for the Committee of Economic and Monetary Affairs of the European Parliament, published in February 2023. The study takes stock of the challenges posed by Brexit since London financial centre is now outside the EU Single Market. The authors expect significant divergence of the UK regulatory framework from EU financial services regulation over the medium – to long-term. The study examines the most recent regulatory developments in the UK, it discusses the prospective evolutions of UK financial services regulation, including through a scenarios-based analysis, and sets some options for the EU’s equivalence regime going forward.

The study was published by the Policy Department for Economic, Scientific and Quality of Life Policies Directorate-General for Internal Policies of the European Parliament.

For citation purposes, the publication should be referenced as: C.A. Petit and T. Beck, Recent trends in UK financial sector regulation and possible implications for the EU, including its approach to equivalence, Publication for the Committee on Economic and Monetary Affairs, Policy Department for Economic, Scientific and Quality of Life Policies, European Parliament, Luxembourg, 2023. (Link)