Speakers of the session
David WrightEUROFI, President
Denis BeauBanque de France, First Deputy Governor
Katharine BraddickHM Treasury, Director General, Financial Services
Nobuyuki KawabataSumitomo Mitsui Financial Group, Inc., Managing Executive Officer, International Business Unit
Shriti VaderaSantander UK, Chair
Objectives of the sessionThis session will discuss how EU-UK relationships in the financial sector are expected to evolve in the coming years and what may be the implications of possible changes (e.g. regulatory divergence, changes in the structure of the European financial market) for the financial industry, its customers and the financing of the economy.
The panel will also assess the short term implications of Brexit for the UK and EU financial sectors and their customers, given the latest developments of negotiations.
Points of discussionIs there a real risk of regulatory divergence over time between the EU and the UK, assuming that Brexit happens, and how would it materialize? How do you see EU-UK relations in the financial services sector and the current hub-and-spoke model of European finance evolving in the 5 coming years? What would be the potential implications of these changes for financial players, their customers and the financing of the EU economy?
Is the level of preparation of the financial industry and the authorities sufficient to allow the EU and UK financial sectors to function smoothly in the short term and ensure continuity of service post-Brexit?