Brexit and the Trade & Co-operation Agreement

02 Mar 2021

Industry commentators believe that a future trade agreement on financial services and regulatory equivalence to remove barriers to cross-border insurance between London’s insurance market and European buyers is unlikely to be achieved anytime soon.

Commenting in an article in Commercial Risk, Director of Policy & Government Affairs, Alistair Kinley, said that despite being more than 1,000 pages in total, the Trade & Co-operation Agreement (TCA) has just five pages on financial services. A separate ‘declarations’ document indicates that the UK and EU will finalise a memorandum of understanding (MoU) on financial services by the end of March 2021, but that will only be a roadmap. “It’s going to take years to cover off the necessary detail,” according to Alistair.

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Disclaimer: This document does not present a complete or comprehensive statement of the law, nor does it constitute legal advice. It is intended only to highlight issues that may be of interest to clients of BLM. Specialist legal advice should always be sought in any particular case.

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Alistair Kinley

Alistair Kinley

Director of Policy & Government Affairs,

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