Question to the Department for Exiting the European Union :

To ask Her Majesty's Government what discussions they have had with representatives of (1) the City of London Corporation, and (2) the City of London financial services sector about the proposals for the financial services sector in The future relationship between the United Kingdom and the European Union (Cm9593), published in July.

Ministers and officials from my Department and across Government continue to engage broadly across all sectors - including the financial services sector - and across the UK to hear the business’ priorities and issues relating to our exit.

The Secretary of State and all the ministers in my Department met with business leaders from across the economy to discuss the White Paper at Chevening House on 20 July. This included a deep dive session on financial services with major firms and financial institutions, which included discussions on the proposed new economic and regulatory arrangement.

In addition, ministers and officials in the Treasury continue to engage closely with firms across the Financial Services sector on the White Paper and wider EU exit issues.

The proposals outlined in the White Paper set out an ambitious and credible proposition for a close future relationship on financial services with the EU. This would provide stable and predictable access to each other’s markets, while recognising that the UK and the EU will exercise autonomy over regulatory decisions through domestic equivalence processes, and protect financial stability.