The UK's financial services sector plays a significant role in the country's economy, and as such, the UK Government should take steps to ensure that the sector can continue to thrive and remain globally competitive.

44. The UK should work with the EU to maintain equivalence for clearing past 30 June 2025, and assess the potential benefits of seeking equivalence arrangements in other areas of financial services.

45. The UK and EU should fully implement a financial services Regulatory Cooperation Dialogue to foster a close and productive relationship with EU authorities.