Brexit on Financial Services

Ecco il testo - contenuto nella "Political declaration setting out the framework for the future relationship between the European Union and the United Kingdom" approvato in data odierna dal Consiglio dell'Unione Europea - relativo alla futura regolamentazione dei servizi finanziari (grassetto nostro, ndr).

IV. FINANCIAL SERVICES

37. The Parties are committed to preserving financial stability, market integrity, investor and consumer protection and fair competition, while respecting the Parties’ regulatory and decision-making autonomy, and their ability to take equivalence decisions in their own interest. This is without prejudice to the Parties' ability to adopt or maintain any measure where necessary for prudential reasons. The Parties agree to engage in close cooperation on regulatory and supervisory matters in international bodies.

38. Noting that both Parties will have equivalence frameworks in place that allow them to declare a third country's regulatory and supervisory regimes equivalent for relevant purposes, the Parties should start assessing equivalence with respect to each other under these frameworks as soon as possible after the United Kingdom’s withdrawal from the Union, endeavouring to conclude these assessments before the end of June 2020. The Parties will keep their respective equivalence frameworks under review.

39. The Parties agree that close and structured cooperation on regulatory and supervisory matters is in their mutual interest. This cooperation should be grounded in the economic partnership and based on the principles of regulatory autonomy, transparency and stability. It should include transparency and appropriate consultation in the process of adoption, suspension and withdrawal of equivalence decisions, information exchange and consultation on regulatory initiatives and other issues of mutual interest, at both political and technical levels.

Molto probabilmente Londra non sarà più la stessa piazza finanziaria per gli europei (ma per altre economie diverrà molto importante), le relazioni finanziarie assumeranno progressivamente un ruolo ancillare rispetto a quella tra imprese e le negoziazioni tra le Autorità, peraltro condotte su più piani e su qualsiasi materia, risulteranno verosimilmente molto complesse. Uno schema di costruzione dell'equivalenza "à la chinoise"?