Wednesday, 19 October 2016

Press Release: New Financial Advisory Forum Unites Leave and Remain To Provide Evidence-based Research

The Association of Corporate Treasurers and London First have become the latest organisations to support the Financial Services Negotiation Forum (FSNForum), a bipartisan research and advisory group bringing together former supporters of both sides of the EU Referendum debate.

The FSNForum, which was launched today, will consult widely and undertake neutral, evidence-based research to provide decision-makers with input on key negotiation issues as Britain exits the EU. The research priorities of the Forum include equivalence, euro-clearing, access to talent and market liquidity. The objective is to help secure an outcome that is in the best achievable interest of the whole of the UK, but which is also founded on the need for an open and internationally competitive European marketplace.

The FSNForum will work independently and in partnership with other pro-business stakeholders both in the UK and in Europe. In carrying out its work, it will seek input from a broad cross-section of firms in the financial services sector and beyond, in particular seeking contributions from market participants whose needs may be under-represented.

A number of senior City figures and parliamentarians, including Remainers and Leavers, have already pledged their backing to FSNForum and joined its Advisory Council, with the latest organisations adding to the Forum's momentum.

Anthony Belchambers, Chairman of the Honorary Advisory Council of the FSNForum, said: "We are delighted that organisations including the ACT and London First will support our work. During this time of post-Referendum disruption and confusion, there is a clear need for an inclusive, consensus-building forum and for objective, evidence-based research. The UK may be leaving the EU, but it remains firmly in Europe - a point often overlooked."

Dr Charles Tannock MEP said: "The UK's decision to leave the EU has generated a step change in our relations. Reconciling political differences will not be easy, but an open market approach and a pro-business outcome to the negotiations is a 'win win' for Europe and all its stakeholders. That is the core philosophy of this new joint Forum and I am delighted to support it."

Charlotte Morgan, FCA, AMCT, of the Association of Corporate Treasurers, said: "The ACT's members operate at the heart of real economy businesses. We are pleased to participate in this forum which will seek to apply clear analysis to the possible negotiation options. Together we need to minimise the additional costs on international trade that might arise as a result of Brexit, and to ensure that European financial institutions can continue to provide strong liquidity to European businesses."

The members of the Honorary Advisory Council of the FSNForum are:

  • Anthony Belchambers (Chairman)
  • Richard Bernays
  • Richard Boggis-Rolfe
  • Baroness Bowles of Berkhamsted (LibDem)
  • Dame Alison Carnwath
  • Baroness Cohen of Pimlico (Lab)
  • Rt Hon Mark Field MP (Con)
  • Stephen Hammond, MP (Con)
  • Lord Harrison (Lab)
  • Robert Hiscox
  • Dominic Johnson
  • Professor Michael Mainelli
  • Charlotte Morgan FCA (ACT)
  • Jon Moulton
  • Richard Oldfield
  • David Reid Scott
  • Anthony Speaight QC
  • Dr. Charles Tannock MEP (Con)
  • Lord Teverson (Lib Dem)
  • Simon Walker (Director General, Institute of Directors)

Contact Information:
Anthony Belchambers (
Daniel Hodson (

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