To ask the Chancellor of the Exchequer, whether the EU has agreed to implement (a) temporary equivalence and recognition for UK central counterparties and central securities depositories, (b) the European Securities and Markets Authority’s decision to approve Memoranda of Understanding on allowing cross-border delegation of portfolio management between the UK and the EEA and (c) the European Insurance and Occupational Pensions Authority's recommendations on relevant member state regulators to minimise detriment to insurance policyholders in the in the event the UK leaves the EU without an agreement.
I refer the Hon. Member to the answer that I gave on 24 July 2019 under UIN 279465.
We welcome the steps taken by the EU and some individual member states to help mitigate cliff-edge risks to financial services. This includes: