On the 27th of July, the European Capital Market Institute (ECMI) published a Research Report by Karel Lannoo named EU-UK financial market access in 2021 which acknowledged that amid the uncertainty of EU-UK negotiations, financial market access is sure to be marked by more friction.
As the end of the transition period approaches, both sides are diverging, which indicates that financial services trade across the Channel will be very different next year. Even if a trade agreement were to be concluded by the end of 2020, market access will be well below what it is today. Equivalence decisions are limited in scope, and equivalence assessments await conclusion. And what will be the means for recourse?
About the author
Karel Lannoo has been CEO of CEPS since 2000, a Leading Independent Think Tank on European Policies, ranked among the top 10 think tanks in the world. He is General Manager of the European Capital Markets Institute (ECMI) and the European Credit Research Institute (ECRI), both operated by CEPS.