Scope of WTO rules Working Group

Following announcements from HM Government regarding the U.K.’s future relationship with the E.U., the Financial Markets Law Committee resolved to establish a Working Group to consider legal uncertainties in relation to the scope of the World Trade Organisation (“WTO”) rules across the wholesale financial markets.  This includes but is not limited to analysis of: (i) the impact of the WTO rules both as a support and a constraint on cross-border business post-Brexit; (ii) the viability of transitional arrangements; and (iii) the scope and effects of the “most-favoured nation” provision of the General Agreement on Trade in Services (“GATS”).