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1172525

registered interest
date	22/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: EU Law
house id	1
legislature	25259 pref label House of Commons
question text	What plans the Government has to comply with provisions of the Markets in Financial Institutions Directive on broker dealers after the UK leaves the EU.
tabling member constituency	Stalybridge and Hyde
tabling member printed	Jonathan Reynolds
uin	6676
answer	answer is ministerial correction date of answer 29/01/2020 answer text <p>We will leave the EU on 31 January with the same regulatory rulebook, including Markets in Financial Instruments Directive (MiFID) II regulations on broker dealers, as the EU27. We have brought MiFID II regulations into UK law. Firms will be expected to comply with these UK regulations after the Implementation Period.</p><p> </p><p>The UK is committed to building a strong and mutually beneficial future relationship on Financial Services with the EU after we leave.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 29/01/2020 12:41:26 answering member 4051 label Biography information for John Glen
tabling member	4119 label Biography information for Jonathan Reynolds

1015201

registered interest
date	26/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: EU Law
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to his oral contribution of 22 November 2018, Official Report column 1097, on the terms of the agreement that he has reached with the EU and EU equivalence on financial services not being withdrawn on a whim, what assurances he has received on the future notice period for withdrawal of such equivalence by the EU.
tabling member constituency	East Ham
tabling member printed	Stephen Timms
uin	195459
answer	answer is ministerial correction date of answer 29/11/2018 answer text <p>The political declaration states at Paragraph 39 on page 9, that both parties are committed to developing ‘…close and structured cooperation on regulatory and supervisory matters’. It goes on to note that this cooperation should ‘…include transparency and appropriate consultation in the process of adoption, suspension and withdrawal of equivalence decisions’. This means that the UK and EU have instructed negotiators to deliver a legal agreement by the end of 2020 which incorporates these principles in relation to equivalence in financial services, keeping in mind a joint commitment to preserve financial stability and market integrity.</p> answering member constituency Salisbury answering member printed John Glen question first answered 29/11/2018 15:48:30 answering member 4051 label Biography information for John Glen
tabling member	163 label Biography information for Sir Stephen Timms

1005783

registered interest
date	12/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: EU Law
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 6 November 2018 to Question 187143 on EU Internal Trade, how his Department plans to transpose provisions from EU law into UK law involving thresholds measuring the proportion of the entire market or a specified number of grouping of member states, in Articles 12 to 16 of the Commission Delegated Regulation amending MiFID 565/2017 in the event that the UK leaves the EU without a deal.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	190540
answer	answer is ministerial correction date of answer 15/11/2018 answer text <p>Articles 12 to 16 of the Commission Delegated Regulation amending MiFID 565/2017 will become deficient after the UK’s exit from the EU. In the event of the UK leaving the EU without a deal, it will be amended in accordance with Regulation 40 of the draft Markets in Financial Instruments (Amendment) (EU Exit) Regulations 2018.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/11/2018 15:52:12 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds