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star this property registered interest false more like this
star this property date less than 2016-07-04more like thismore than 2016-07-04
star this property answering body
HM Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Insurance: Regulation remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the potential effect of the UK leaving the EU on the (a) regulation of the insurance industry and (b) implementation of the Solvency II Directive. more like this
star this property tabling member constituency St Helens North more like this
star this property tabling member printed
Conor McGinn more like this
star this property uin 41683 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2016-07-07more like thismore than 2016-07-07
unstar this property answer text <p>Action taken by the Government and the Bank of England over the last six years has substantially strengthened the resilience of the financial system, and the authorities have all the necessary tools in place to protect financial stability.</p><p> </p><p>Following the referendum result, the Government must now prepare for a negotiation to exit the EU to ensure that the interests of all parts of the UK are protected and advanced. I want us to agree an economic relationship with the rest of Europe that provides for the best possible terms of trade in financial services, including insurance.</p><p> </p><p>The Prime Minister has been clear that the negotiation for Britain’s future relationship with Europe will begin under a new Prime Minister. In the meantime, and during the negotiations that follow, there will be no change to the way that insurance is sold or regulated.</p><p> </p><p>Much financial regulation currently applicable in the UK derives from EU legislation, including Solvency II. Until negotiations are concluded, we remain a full member of the EU and must meet our obligations as a member of the EU.</p>
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin more like this
star this property question first answered
less than 2016-07-07T14:08:42.437Zmore like thismore than 2016-07-07T14:08:42.437Z
unstar this property answering member
4107
star this property label Biography information for Harriett Baldwin more like this
star this property tabling member
4458
unstar this property label Biography information for Conor McGinn remove filter