Financial Services (Miscellaneous Amendments) Regulations 2022

Lord Teverson Excerpts

Tuesday 15th November 2022 Lords Chamber

[Lord Teverson (LD)]

My Lords, I apologise for speaking slightly out of order. As part of the European Union Committee, I took a great interest in the Gibraltarian situation. As the Minister will know, Gibraltar was not covered by the trade and co-operation agreement. At the moment, negotiations are still going on between the UK and the EU on Gibraltar’s status—I think we are on round nine. Can the Minister be clear on whether financial services are included in trying to reach a final agreement between the EU and the UK on Gibraltar and its relationship with the EU? If that is the case, will these SIs become redundant and be replaced by another regime completely? I would be interested to understand that from a strategic point of view.