Trade agreements aiming to reduce regulatory barriers are often a way to put in place rules that are better for corporations, but much worse for the environment and citizens. What is agreed in the name of free trade would never normally be approved by our political processes.
In the case of financial services we need to build on the fragile and hard-fought post-financial crisis rules. Any trade agreements with the EU should protect our financial regulation framework and ensure citizens are not put at risk. The UK is in the process of exiting the EU and negotiating future trade arrangements. These arrangements must ensure that continued efforts are made to maintain the current rules that both EU and UK citizens benefit from and to work together to improve them.