Financial Services: EU Law

Treasury written question – answered on 29th January 2020.

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Photo of Jonathan Reynolds Jonathan Reynolds Shadow Economic Secretary (Treasury)

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.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

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.

The UK is committed to building a strong and mutually beneficial future relationship on Financial Services with the EU after we leave.

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