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Brexit HoL EU Services Sub-Committee report on trade in services On 24 March, the HoL European Union Committee published a new report on UK-EU trade in services. The report concludes that despite the agreement of the Trade and Cooperation Agreement (TCA), the UK and EU still have work to do in overcoming the significant challenges that remain for trade in services. The report focuses on the implications on sectors including: (i) financial services, the TCA does not include substantive provisions on financial services, and delays to key decisions about the future relationship, particularly on equivalence, mean that the sector is still in a period of uncertainty. The UK’s exit from the passporting regime has led to the movement of some activity to the EU and firms facing the challenges involved in navigating different market access requirements in each Member State. The Committee is concerned that over time this may lead to a big shift of people and assets out of the UK. The Commit

United kingdomCity ofKatharine braddickMonetary affairs committeeTask force on financial disclosureNetwork of central banksInternational islamic financial marketOffice for the internal marketSupervisory committeeHol eu services subSenior advisory groupDepartment for businessEuropean financial markets lawyers groupFinancial servicesBoe monetary policy committeeGlobal financial markets association