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<p>The EU previously found Swiss stock exchanges equivalent under the MiFID II share
trading obligation until 31 December 2018. Switzerland is an important financial partner
for the UK and we support an extension of the equivalence decision for Swiss stock
exchanges.</p><p>The Government has successfully negotiated an agreement on the future
relationship for financial services when we leave the EU that touches on the full
spectrum of the UK’s White Paper position. The Political Declaration outlines that
there should be initial decisions on equivalence by June 2020 and clear processes
around the suspension and withdrawal of equivalence decisions in future. This should
be supported by a legally-binding bilateral agreement for structured regulatory dialogue
and consultation to ensure financial services are regulated compatibly, and that changes
in legislation and the implications for trade are managed well.</p><p>The Government’s
long-term economic analysis sets out the impact of the UK’s White Paper position on
the financial services sector.</p>
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