The Association for Financial Markets in Europe (AFME) has today issued a comment in response to the UK Government’s Financial Sector Reforms, announced today in Edinburgh.

Adam Farkas, Chief Executive of AFME, said: “AFME welcomes the UK Government’s proportionate and considered approach to reforming financial services sector policy in the UK, building on the longstanding dialogue between the official sector and industry.

“AFME supports financial regulation that encourages growth and that is fit for purpose and proportionate for UK capital markets, while promoting openness and competitiveness. 

“AFME members are global wholesale banks that support European clients internationally, therefore, it is a priority to ensure the continuity of cross-border services and to avoid market fragmentation. In this respect, AFME advocates for the same policy approaches in both the UK and the EU.”