The first round of negotiations between the United Kingdom and the European Union to determine their future, post-Brexit relationship took place between March 2 and March 5 in Brussels, Belgium. The outcome of these negotiations will shape the way the two work together following the end of the transition period, currently scheduled to extend through Dec. 31.
For the financial technology sector, the discussions surrounding the future U.K.–EU regulatory relationship as it relates to financial services will be particularly important to watch, as the outcome will determine how fintech services are bought and sold between the two. The negotiations also remind us that there are other policy domains — notably related to post-Brexit immigration in the U.K. — that will be important in determining the future size and shape of fintech. And given the U.K.’s widely acknowledged position as a global leader in fintech, it is not surprising that the outcomes will be important both within and beyond the United Kingdom.