In my speech here tonight, let me raise two crucial questions – and try to provide tentative answers. The first question is: How fragmented will financial services – and their supervision – be in the EU and the UK after Brexit?
The second question is important not just to the United States, but also to other third countries to the EU: Will we see changes in the general approach to the regulation of foreign firms in the EU? 2. Will Brexit fragment financial services and their supervision? Let’s begin with the question about the future relations between the UK and the EU.