31 Jul 2018
Britain has warned the European Union negotiators that EU financial firms will face obstacles to working in the country after Brexit unless the City of London is allowed to operate in the bloc as it does currently, the Guardian reported on Monday.
The Guardian said that about 7,000 European based investment funds could be hit by regulators, citing a section of a presentation, seen by the newspaper, which made by Britain to EU negotiators during talks last week.
A spokeswoman for Britain’s Department for Exiting the European Union declined to comment on the report.
Last week, EU chief negotiator Michel Barnier said that he had agreed with Brexit minister Dominic Raab that future financial market access would be governed by autonomous decisions on both sides, but questions remain on how the relationship will work.
By Alistair Smout, Reuters, 30 July 2018.
Link to Reuters.
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