Hammond: We need to avoid fragmentation of financial services after Brexit

In a speech at Mansion House on Tuesday, the chancellor said Britain must secure a trade agreement with Europe in order to achieve a "Brexit for Britain". He cited financial services as "one of our most important EU export sector[s]", and said avoiding fragmentation of financial services was "a huge prize for the economies of Europe".  To achieve this, a new process for establishing regulatory requirements for cross-border business between the UK and EU was needed, he said. This must be "evidence-based, symmetrical and transparent, and it must reflect international standards". H...