Move by UK regulator seen as limiting relocation to EU’s financial centres.
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.
Sadiq Khan urges government to strike financial services equivalence deal with EU.
Amsterdam surpassed London as Europe’s largest share trading centre last month, as Brexit led London to lose business.
London, at the heart of the UK’s service sector economy, may lose up to £9.5bn in economic output a year from Brexit.
London has been the unrivaled king of European finance for more than three decades. Brexit is starting to change that.
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.
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.
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.
First trading day since Brexit shows early damage to London / Aquis CEO is pessimistic about prospects for ‘equivalence’
House of lords says ‘significant challenges remain’ for the financial services sector.
Deadline to agree regulatory equivalence for financial services and allow business after Brexit likely to be missed.
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.
Brussels looks set to lock the City of London out of European markets from 1 January, with the EU not planning on granting regulatory equivalence before the end of the Brexit transition period.
The European Union is unlikely to grant broad access for the City of London, and the flight of euro share trading from Britain to the bloc is permanent, UK bankers said on Monday.
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.
The European Union is set to block some countries from accessing parts of the bloc’s financial market for the first time...
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.
EU Brexit negotiator Michel Barnier complained of lack of respect and engagement by UK
The European Union’s chief Brexit negotiator rejected the U.K.’s latest proposals for financial firms to do business with the 27-nation bloc after Brexit, accusing Britain of trying to keep as many of the benefits of the single market as it can.
Financial services: Commission adopts equivalence decision for US central counterparties - European Commission
27/01/2021
The European Commission today adopted an equivalence decision determining that the United States Securities and Exchange Commission (SEC) regime for US central counterparties (CCPs) is equivalent to EU rules.
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.
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.