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ARTICLE · 08 MAY 2018

EU And UK To Establish Technical Working Group For Risk Management Around Brexit

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On April 27, 2018, the European Commission and HM Treasury announced that the ECB and the Bank of England will establish a technical working group on risk management ...

European UnionFinance and Banking
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On April 27, 2018, the European Commission and HM Treasury announced that the ECB and the Bank of England will establish a technical working group on risk management in the period around March 30, 2019 for financial services. The U.K. leaves the EU on March 29, 2019, although the provisionally agreed transition period means that most EU laws will continue to apply in the U.K. until December 31, 2020.

The Terms of Reference for the working group state that the European Commission and HM Treasury will attend the group as observers. Other regulatory authorities will be invited to attend on an issue-specific basis.

The announcement is available at: https://ec.europa.eu/info/sites/info/files/20180427-financial-services-technical-working-group.pdf  and the terms of reference are available at: https://ec.europa.eu/info/sites/info/files/terms-of-reference-eu-uk-cooperation-risk-management-financial-services_en.pdf.

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