In response to the Chancellor’s remarks at the Mais lecture, Adam Farkas, Chief Executive of the Association for Financial Markets in Europe (AFME), said:
"AFME welcomes the UK Chancellor’s focus on growth and her pragmatic approach to the EU–UK relationship. We also strongly welcome the recognition that deep and liquid capital markets can be a source of collective European strength.
“AFME continues to support an outcomes-based approach to equivalence as key to facilitating cross-border activity. Early progress could be made in targeted areas, including aspects of the CRR framework, particularly where EU banks interact with UK entities, and in providing appropriate relief for intragroup transactions.
“A stronger framework for deeper EU–UK financial services cooperation is essential to support growth, enhance regulatory certainty and unlock investment across Europe."
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