UK to develop separate financial services regulatory framework post Brexit

Brexit secretary David Davis told senior industry figures last week that the government is working towards a transitional period immediately after leaving the EU, in which the sector would benefit from a "standstill" deal, maintaining all existing cross-border agreements, according to the Financial Times. Davis believes if the UK maintains its existing regulatory framework for financial services after Brexit, in the long term the country would lose any competitive advantage the UK-based industry would gain from being outside the bloc. Since the UK's referendum on EU membership in June...