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.
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.
This is the latest move in an ongoing battle from EU regulators to ensure more financial services business moves back to the bloc after the UK's split with the EU.
Brexit bites into London’s FX trading as Singapore and New York seize City’s derivatives share
01/11/2022
London’s status as the global hub for FX and derivatives trading is under threat for the first time since Brexit.
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.
The European Commission’s financial services head insisted that U.K. clearinghouses will get no further access to the bloc’s markets after 2025, knocking back the Bank of England governor’s calls for an indefinite trade route into the European Union.
In the months after Boris Johnson signed his post-Brexit trade deal with the European Union, the coronavirus masked the economic damage of leaving the bloc. As the pandemic drags on, the cost is becoming clearer -- and voters are noticing.
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.
Brexit pressure group forms to push for UK-EU equivalence as EU bankers demand market access
29/11/2021
Group launches to try and fix EU-UK friction post-Brexit.
'The final Brexit deal was effectively a no-deal Brexit for finance... this was a major mistake,' said Sadiq Khan.
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.
France is blocking a post-Brexit financial services deal between the EU and the UK until Boris Johnson’s government grants fishermen fair access to British waters, officials have claimed.
The U.K.’s departure from the European Union pushed more than 440 financial firms to move at least some of their operations, staff, assets or legal entities from Britain to the bloc.
Move by UK regulator seen as limiting relocation to EU’s financial centres.
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.
House of lords says ‘significant challenges remain’ for the financial services sector.
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”.
The U.K.’s plan to review its financial rulebook undermines prospects of a deal with the European Union on post-Brexit market alignment, according to a leading EU lawmaker on the issue.
London has been the unrivaled king of European finance for more than three decades. Brexit is starting to change that.
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.
Amsterdam surpassed London as Europe’s largest share trading centre last month, as Brexit led London to lose business.
Sadiq Khan urges government to strike financial services equivalence deal with EU.
London, at the heart of the UK’s service sector economy, may lose up to £9.5bn in economic output a year from Brexit.
Britain’s finance industry is appealing for greater access to the European Union single market, amid fears that politics could leave large parts of the City of London shut out of Europe for good.