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  • Financial Services policy briefing: April

Financial Services policy briefing: April

Ana I. Gallego Senior Policy Adviser, Financial Services

A look at recent developments in the sector and the role of financial services in recovery

12 Apr 2021, 2 min read

The Financial Services team continues to work actively on the range of consultations on the future of UK financial services, the latest being the UK Funds Review. The CBI welcomed the launch of the Recovery Loan Scheme and is working with lenders, the British Business Bank and government on various matters including the Northern Ireland Protocol. It also continues to work actively with insurers on developments in the sector.

Team News

The Financial Services team are delighted to welcome Megan Coulson, Senior Policy Adviser, Financial Services and Julia Jasinka, Senior Policy Adviser, Sustainable Finance to the team. They will be getting involved in various projects and meeting members over the coming weeks.

Consultations

The CBI is finalising its response to the UK Funds Review. This review of the UK’s fund regime covers tax and areas of regulation, with the call for input setting out the scope and objectives of the review. HM Treasury invites stakeholders to provide views on which reforms should be taken forward and how these should be prioritised. If you would like to be involved in the CBI’s response, please contact Chris Wilford.

Sustainable Finance Working Group

The CBI published its discussion paper on Sustainable Finance earlier this year. . A working group on environmental, social and governance (ESG) is now up and running. This will help develop the CBI’s position on these issues through the B7, COP 26 and beyond. If you would like to be involved, please contact Flora Hamilton.

Financial Services Innovation Forum

From Open Finance to data standards and online fraud issues regarding financial services innovation continue apace. The CBI’s Financial Services Innovation Forum will be starting up again soon. If you would like to find out more, please contact Megan Coulson.

Brexit and financial services

The CBI welcomed the conclusion of technical negotiations for a memorandum of understanding between the UK and EU on financial services.

Thank you for your continued feedback on the impact of Brexit on your own business as well as your customers. Your insights on what next and views on equivalence continue to be welcome, as well as opportunities for the UK going forward. You can find more information on our UK Transition Hub.

If you would like to share your latest views please do contact your account manager or reach out directly to Flora Hamilton, Director of Financial Services.