Activity in first three months of year indicates UK's withdrawal from EU could remake financial centres across Europe in coming years. / A month after Britain voted to leave the European Union, Boris Johnson was asked whether he thought the finance industry would keep its rights to trade freely in the bloc. “I do, I do,” he told reporters. It was never that simple.
The U.K. and the European Union have yet to find a solution for the financial services industry after Brexit, and recent data suggests that Brussels may have the upper hand in negotiations.
'The final Brexit deal was effectively a no-deal Brexit for finance... this was a major mistake,' said Sadiq Khan.
The golden age of the City of London began with a big bang. It’s ending with a whimper.
The City of London’s will remain a global financial centre but may not see the ‘golden age’ again, according to NatWest bank chairman Howard Davies.
Equivalence permits for UK financial services unlikely to be ready by January 1st.
Talks to give U.K. financial services firms access to the European Union’s single market after Brexit have been put on hold, according to a government minister.
Sadiq Khan has called for the government to provide greater clarity for the City of London post-Brexit, with the mayor telling Rishi Sunak to “address the concerns of London’s financial and professional services sector”.
With Brexit complete, UK negotiators are now striving to reclaim selected access to EU financial markets.
The UK has signed a pact with the EU to increase co-operation on financial services. / It will set up a forum where the EU and UK can meet twice a year to discuss financial regulation and standards.
It is too early to tell if Britain’s financial rules post-Brexit will diverge too far from European Union norms to consider giving it access to the bloc’s markets, a senior EU official said on Tuesday.
Xavier Rolet says ‘boat has sailed’ on London clearing amid Brexit battle for trillion-euro business
23/02/2022
Mairead McGuinness, European commissioner for financial stability, financial services and the capital markets union, says Brexit equivalence on clearing is over in 2025.