City of London warned risks of market fragmentation if deal with EU can't be reached
                 Source: Xinhua | 2018-01-27 23:44:45 | Editor: huaxia

Photo taken on Oct. 21, 2014 shows an interior view of the London Stock Exchange (LSE). (Xinhua/Wu Xintao)

LONDON, Jan. 27 (Xinhua) -- Britain's financial services sector, concentrated in the City of London, risks market fragmentation and instability if a future deal with the European Union cannot be agreed, a committee of House of Lords politicians warned Saturday.

The EU Financial Affairs Sub-Committee issued their warning after conducting an inquiry into the future of financial regulation and supervision after Brexit.

The report highlights the risks of market fragmentation and instability if Britain and the EU cannot agree a deal on market access once the UK has left the bloc.

"The government must urgently clarify what outcome it wants from phase two of Brexit negotiations and on transitional arrangements, or firms will be forced to activate costly and potentially irreversible contingency plans," says the report.

Baroness Falkner, who chairs the committee in the unelected House of Lords at Westminster, said: "There is a risk of market fragmentation and financial instability if the UK loses access to the EU, as well as harm to customers and businesses. The UK's financial services sector is a global asset and both sides should want it to continue serving clients throughout Europe.

"The financial services sector needs greater clarity from the government about what it wants after Brexit, and it needs it now. A transition period is meaningless without a destination."

Falkner added that Brexit is an opportunity to tailor the regulatory regime to strengthen the UK's financial services sector. But she said Britain must remain committed to the international standards put in place following the financial crisis and continue to shape them to ensure a robust regulatory regime."

The report concludes: "The translation of EU regulation into domestic law will need delicate handling by the government. Some rules will need to be enshrined in statute. It is vital that Brexit, in transferring powers to domestic regulators, should not result in an unintended deficit in democratic scrutiny and accountability."

A report by the London School of Economics (LSE) in 2017 said financial and professional related services in Britain employed 2.2 million people, generating 270 billion U.S. dollars for Britain's GDP.

The study estimated roughly half of Britain's Financial Services revenues are in wholesale and international business, with up to 62 billion U.S. dollars directly related to the EU. It could put up to 65,000 jobs in the sector at risk, the LSE report added.

Looking at the possible impact on the City of London, the LSE report said London will likely see some reduction in Financial Services sector activity, but will likely remain an EMEA (Europe, Middle East and Africa) hub.

In a report earlier this month, London mayor Sadiq Khan warned an independent analysis feared the worse scenario in a no-deal hard-Brexit could lead to half a million fewer jobs in Britain, with financial and professional services the hardest hit. That sector, he said, could lose 119,000 jobs.

The next round of negotiations between Britain and the EU on a future relationship deal are due to start soon.

Back to Top Close
Xinhuanet

City of London warned risks of market fragmentation if deal with EU can't be reached

Source: Xinhua 2018-01-27 23:44:45

Photo taken on Oct. 21, 2014 shows an interior view of the London Stock Exchange (LSE). (Xinhua/Wu Xintao)

LONDON, Jan. 27 (Xinhua) -- Britain's financial services sector, concentrated in the City of London, risks market fragmentation and instability if a future deal with the European Union cannot be agreed, a committee of House of Lords politicians warned Saturday.

The EU Financial Affairs Sub-Committee issued their warning after conducting an inquiry into the future of financial regulation and supervision after Brexit.

The report highlights the risks of market fragmentation and instability if Britain and the EU cannot agree a deal on market access once the UK has left the bloc.

"The government must urgently clarify what outcome it wants from phase two of Brexit negotiations and on transitional arrangements, or firms will be forced to activate costly and potentially irreversible contingency plans," says the report.

Baroness Falkner, who chairs the committee in the unelected House of Lords at Westminster, said: "There is a risk of market fragmentation and financial instability if the UK loses access to the EU, as well as harm to customers and businesses. The UK's financial services sector is a global asset and both sides should want it to continue serving clients throughout Europe.

"The financial services sector needs greater clarity from the government about what it wants after Brexit, and it needs it now. A transition period is meaningless without a destination."

Falkner added that Brexit is an opportunity to tailor the regulatory regime to strengthen the UK's financial services sector. But she said Britain must remain committed to the international standards put in place following the financial crisis and continue to shape them to ensure a robust regulatory regime."

The report concludes: "The translation of EU regulation into domestic law will need delicate handling by the government. Some rules will need to be enshrined in statute. It is vital that Brexit, in transferring powers to domestic regulators, should not result in an unintended deficit in democratic scrutiny and accountability."

A report by the London School of Economics (LSE) in 2017 said financial and professional related services in Britain employed 2.2 million people, generating 270 billion U.S. dollars for Britain's GDP.

The study estimated roughly half of Britain's Financial Services revenues are in wholesale and international business, with up to 62 billion U.S. dollars directly related to the EU. It could put up to 65,000 jobs in the sector at risk, the LSE report added.

Looking at the possible impact on the City of London, the LSE report said London will likely see some reduction in Financial Services sector activity, but will likely remain an EMEA (Europe, Middle East and Africa) hub.

In a report earlier this month, London mayor Sadiq Khan warned an independent analysis feared the worse scenario in a no-deal hard-Brexit could lead to half a million fewer jobs in Britain, with financial and professional services the hardest hit. That sector, he said, could lose 119,000 jobs.

The next round of negotiations between Britain and the EU on a future relationship deal are due to start soon.

010020070750000000000000011105091369298851
大发彩票 大发app 凤凰彩票app 乐发iv游戏平台 凤凰彩票大厅 乐发彩票 乐发彩票app下载 大发彩票 乐发v官网 乐发lll 乐发lv入口 乐发iv首页 乐发ll登录 凤凰彩票大厅 乐发官网 乐发ii下载入口 乐发ll 乐发v平台 乐发v官网 乐发lll 乐发lv入口 乐发iv首页 乐发ll登录 乐发lv 乐发lll安装 乐发lv 乐发登录入口 乐发iv游戏平台 凤凰彩票登录 网信彩票 彩神 彩神彩票官方网站 彩神彩票官网首页 彩神官方app下载安卓版 凤凰彩票登录 彩神v3 凤凰彩票app下载 彩神官方app下载安卓版 网信快三 一分快3 快三彩票购彩平台 凤凰彩票官方 快3官网 网信彩票 快3app 网信彩票平台 百姓彩票平台 网信平台官网 快3app下载 百姓彩票 每日彩票 快3app 百姓彩票 每日彩票 快3app 百姓彩票平台 幸运5分彩快3 快3彩票app下载 百姓彩票网站网址 大发10分PK10 快3下载 网信彩票平台 网信平台官网 快3彩票官网app 凤凰彩票官方 彩神彩票 大发10分PK10 彩神v3 大发彩票app下载 百姓彩票网站网址 彩神购彩平台 每日彩票 官方正规快三彩票平台 彩神彩票购彩平台 百姓彩票 凤凰彩票购彩平台 凤凰彩票app下载 彩神官方app下载安卓版 网信快三 一分快3 快三彩票购彩平台 凤凰彩票官方 彩神彩票 大发10分PK10 彩神v3 凤凰彩票登录 乐发lv 乐发∨Il 百姓彩票网站网址 乐发彩票 乐发彩票官方网站 乐发lll安装 百姓彩票网站网址 凤凰彩票app下载 大发10分PK10 乐发2 乐发app 凤凰彩票 大发彩票app 乐发登录入口 乐发ll登录 乐发v官网 乐发官网 大发彩票app下载 凤凰彩票购彩平台 彩神彩票 官方正规快三彩票平台 一分快3 百姓彩票网站网址 凤凰彩票app下载 大发10分PK10 乐发2 乐发app 凤凰彩票 大发彩票app 乐发登录入口 乐发ll登录 乐发v官网 乐发官网 大发彩票app下载 凤凰彩票购彩平台 彩神彩票 官方正规快三彩票平台 1分快三平台 百姓彩票平台 凤凰彩票登录 幸运5分彩快3 彩神 乐发彩票 乐发 大发彩票 乐发iv游戏平台 乐发lv 乐发lll 乐发ii下载入口 乐发彩票官方网站 凤凰彩票官方网站 凤凰快3 彩神彩票官网首页 1分快三平台 百姓彩票平台 凤凰彩票登录 幸运5分彩快3 彩神 乐发彩票 乐发 大发彩票 乐发iv游戏平台 乐发lv 凤凰彩票app 乐发app 网信彩票平台 网信彩票平台 乐发iv游戏平台 凤凰彩票app 乐发lv 乐发彩票app下载 凤凰彩票app 网信彩票平台 乐发彩票app下载 乐发lv 乐发app 大发彩票安卓下载 大发彩票安卓下载 大发彩票 乐发彩票app下载 网信彩票平台 乐发iv游戏平台 彩神彩票 乐发彩票中心 极速快3彩票平台 人人快三凤凰 大发彩票app 大发彩票大全 乐发彩票 彩神彩票官方网站 乐发app 酷天堂彩票平台 凤凰彩票app下载 凤凰彩票大厅 凤凰彩票app 极速快3彩票平台 凤凰彩票 凤凰快3 乐发ll官网 乐发彩票中心 正规快三送彩金平台 凤凰彩票官方 乐发ll 乐发 网信彩票 彩神彩票 彩神彩票官方网站 大发彩票app 网信彩票用户 百姓快三 百姓彩票平台 乐发lv 乐发彩票app下载 彩信平台 网信彩票 乐发彩票官方网站 乐发∨Il 人人快三凤凰 凤凰彩票 凤凰快3 乐发ll官网 乐发彩票中心 正规快三送彩金平台 凤凰彩票官方 乐发ll 乐发 网信彩票 彩神彩票 彩神彩票官方网站 人人快三凤凰 乐发彩票 彩神彩票 乐发iv游戏平台 乐发彩票 大发彩票中心 凤凰彩票登录 凤凰彩票app 彩神彩票 大发彩票 乐发ll 大发彩票app 凤凰快3 凤凰彩票 彩神彩票 乐发ll 凤凰彩票 乐发lll 凤凰彩票大厅 网信彩票 彩神彩票 乐发lv 快盈彩票 乐发彩票官方网站 盈彩网投资平台 大发官网 一分时时彩 乐发lv 快3平台 凤凰快3 乐发ll 全民彩票 乐发彩票官方网站 百姓彩票 乐发彩票 大发彩票 极速快3 乐发app 大发官网 乐发lll 快3平台 凤凰快3 乐发ll 全民彩票 乐发彩票官方网站 百姓彩票 乐发彩票 大发彩票 极速快3 乐发app 彩神iv 大发彩票app 大小单双平台 一分pk10 乐发lv 快盈彩票 乐发官网 快彩彩票 百姓彩票 凤凰彩票大厅 网信彩票 乐发彩票中心 网信快3 乐发 彩神xl 三分快3 大发彩票 大发官网 乐发lll 快3平台 凤凰快3 乐发ll 全民彩票 乐发彩票官方网站 百姓彩票 乐发彩票 乐发彩票官方网站 大发彩票 乐发 分分快3 彩神vl 55世纪 55世纪 凤凰快3 乐发彩票 乐发lv welcome凤凰彩票 乐发ll 1分快3 彩神 彩神ll 1分快3官网 1分快3的平台 welcome凤凰彩票 三分快3 彩神x 彩神vl 凤凰彩票 彩神xl 大发彩票 凤凰彩票大厅 乐发官网 乐发ll 乐发lll 乐发lv 大发彩票app 大发彩票 乐发 乐发彩票 乐发彩票中心 凤凰快3 乐发彩票 彩神xl 腾讯快3 大发彩票 彩神xl 大发彩票 乐发彩票 大发彩票app 快3平台 乐发 1分快3 乐发彩票 彩神x 凤凰快3 彩神xl 彩吧助手 大发彩票app 快3平台 大发排列3 彩神iv 彩神vl 乐发IV 彩神x 一分pk10 大发排列3 乐发lv 快3彩票 乐发app下载 三分快3 快三平台助手 乐发彩票ll 彩神iv 乐发lll下载 盈彩网投资平台 乐发Ⅲ 一分pk10 凤凰彩票 乐发Vll 大发官网 乐发ll 大发彩票 乐发1 凤凰快3 彩神vl 乐发lx 百姓彩票 乐发VI 彩神x 乐发IV 极速快3 乐发 凤凰快3 网信快3 乐发lv 快3彩票 乐发app下载 三分快3 快三平台助手 乐发彩票ll 彩神iv 乐发lll下载 盈彩网投资平台 乐发Ⅲ 凤凰彩票大厅 乐发lv 乐发lv 乐发lv 凤凰彩票 大发彩票 大发彩票 凤凰彩票 乐发lv 凤凰彩票 凤凰彩票 乐发lv 乐发ll 凤凰彩票app下载 凤凰彩票 凤凰彩票 乐发lv 乐发ll 凤凰彩票app下载 凤凰彩票 凤凰彩票 乐发lv 彩神x 乐发 乐发ll 极速快3 乐发lv 乐发彩票中心 快3彩票 凤凰彩票大厅 彩神x 凤凰彩票app 分分快3 网信彩票 网盟彩票 凤凰彩票 百姓彩票 乐发 快彩彩票 乐发彩票 快3平台 百姓彩票 大小单双平台 凤凰快3 彩神xl 一分pk10 乐发lv 三分快3 大发彩票 乐发彩票 快3平台 百姓彩票 大小单双平台 凤凰快3 彩神xl 一分pk10 乐发lv 三分快3 大发彩票 极速快3 乐发ll 网信彩票 乐发lv 全民彩票 凤凰彩票app下载 快盈彩票 大发彩票app 大发官网 凤凰彩票 彩神iv 大发彩票 网信快3 凤凰彩票 百姓彩票