FIA has compiled a variety of resources that may be of interest to industry members as the United Kingdom (U.K.) has voted in favour of leaving the European Union. This page will be updated regularly; please check back for additional information.
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London, UK– FIA Tech today launched a new Transfer Protocol to help firms prepare for the transitioning of execution and clearing businesses triggered by the UK’s departure from the European Union...
While transitional arrangements look set to avoid a cliff-edge impact, Brexit will change the landscape for listed derivatives in Europe.
Moderator: Simon Puleston Jones...
Brexit: What's Next for the Cleared Derivatives Industry?
- October 2017: European Parliament to draft resolution on whether “sufficient progress” has been achieved
- October 2017: EU and UK to present joint position on WTO-related issues related to the Withdrawal Agreement
- October/ November 2017: Barnier to recommend to Council whether “sufficient progress” has been made
- October/ November 2017: Council to decide whether “sufficient progress” has been made
- 20 November 2017: Council to make final decision on relocation of EMA and EBA
- End of 2017: Council to update negotiating guidelines for the second phase of negotiations
- End of 2017: Commission to draft more detailed negotiating directives for the second phase of negotiations
- End of 2017/ Beginning of 2018: second phase of negotiations to commence, with the Withdrawal Agreement to be negotiated in parallel with the scoping out of the future EU-UK relationship
- October 2018: Negotiations to conclude:
- At the end of the negotiation period, Barnier will present an agreement to the Council and the European Parliament, taking into account the framework of the future EU-UK relationship
- The European Parliament must give its consent by a vote of simple majority, including MEPs from the UK
- The Council will conclude the agreement by a vote of ‘super’ qualified majority (i.e. at least 72% of the members of the Council, comprising at least 65% of the population of the Member States
- The UK will ratify the agreement according to its own constitutional arrangements
- 29 March 2019: UK to leave the EU
Sam Wood's (Deputy Governor, Prudential Regulation CEO, Prudential Regulation Authority) letter to Nicky Morgan MP, Chair of the Treasury Committee (2 August 2017)
House of Lords European Union Committee Financial Affairs “Call for Evidence” regarding its enquiry into financial regulation and supervision following Brexit (24 July 2017)
Michel Barnier’s (European Commission) oral testimony to the House of Lords EU Select Committee (12 July 2017)
Guy Verhofstadt MEP’s oral testimony to the House of Lords EU Select Committee (12 July 2017)
Statement by Guy Verhofstadt MEP and the European Parliament Brexit Steering Group
European Parliament Brexit Steering Group assessment on the UK Paper “Safeguarding the position of EU citizens living in the UK and UK Nationals living in the EU”
European Commission proposal for a Regulation as regards the procedures and authorities involved for the authorisation of CCPs and requirements for the recognition of third-country CCPs + Annex thereto + Impact Assessment relating thereto + summary of that Impact Assessment + FAQ (June 2017)
Prudential Regulatory Authority’s “Dear CEO” letter regarding contingency planning for the UK’s withdrawal from the European Union (7 April 2017)
House of Lords European Union Committee Paper “Brexit and the EU budget” (4 March 2017)
House of Lords European Union Committee Report “Brexit: financial services” (15 Dec 2016) and the response of UK government thereto (20 March 2017)