UK set for restricted financial markets access under equivalence

Draft Brexit deal

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May and EU strike draft Brexit agreement
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May and EU strike draft Brexit agreement

UK asset managers and other financial services firms could face more restricted access to EU markets under the bloc's equivalence regime, following the agreement of a draft Brexit deal which does not make specific allowances for the sector.

EU membership allows for unrestricted access for financial services but the system of equivalence, which the EU extends to a number of countries it deems to have comparable regulatory regimes, only covers...

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