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Regulatory divergence after Brexit: laying the foundations for a new UK regime
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On 24 December 2020, the UK and EU finally reached agreement on a post-Brexit trade deal. As expected, and as acknowledged by Prime Minister Boris Johnson on Sunday 27 December,1 that agreement contains very limited provision for cross-border trade in financial services. On the same day, Chancellor Rishi Sunak suggested that the UK will now be able to “do things a bit differently” on financial services. This In Practice article briefly examines what that could mean for UK financial sector regulation in the near future and beyond.
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