Lords committee launches inquiry into financial services regulation post Brexit

The House of Lords financial affairs committee has launched an inquiry into how financial services firms could maintain access to the EU after the UK leaves in 2019.

The committee says it will look at maintaining a close regulatory relationship to preserve market access, Reuters reports, as well as examining how regulation could evolve to maintain financial stability and the scope for Britain to adopt its own financial rules.

Chairwoman of the committee Kishwer Falkner says British and EU supervisors will need to cooperate, adding in a statement: “We would like to explore the options for such engagement.”

The committee will begin public hearings in September while the Government will subsequently respond to the committee’s findings.