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Financial Institutions: Switzerland

Treasury written question – answered on 23rd July 2019.

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Photo of Lord Willoughby de Broke Lord Willoughby de Broke UKIP

To ask Her Majesty's Government whether they intend to permit Swiss financial institutions to continue to operate in London until the UK leaves the EU.

Photo of Lord Young of Cookham Lord Young of Cookham Lord in Waiting (HM Household) (Whip), Lords Spokesperson (Cabinet Office)

Switzerland is an important financial partner for the UK. Swiss financial institutions can operate in the UK in line with existing applicable UK and EU law.

The UK has also taken steps to ensure the continuity of this relationship once we exit the European Union, including the transition of the EU-Swiss Direct Insurance Agreement into a UK-Swiss Direct Insurance Agreement.

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