Brexit financial services News

Chronic Scarcity of UK Workers Blamed on COVID and, of Course, Brexit

On the outskirts of the Scottish town of Kirkcaldy is a crop of new houses on their way to completion. There are two large banners pinned to the perimeter fence with a mobile phone number: “Bricklayers Required.” Rather than prices …

Britain Calls on EU to Open Financial Services Talks, Urging Bloc to Avoid Protectionism

Britain’s finance ministry called on the European Union to open talks on financial services, after the London Stock Exchange on Tuesday urged the bloc to avoid protectionism. Britain left the EU in December, largely cutting off the City of London’s …

London’s ‘Golden Age’ as Europe’s Financial Center Has Ended: NatWest Chair

The City of London’s ‘Golden Age’ as Europe’s financial capital is over following Brexit, but it will remain a major and profitable center, NatWest bank chairman Howard Davies said on Tuesday. The City has been largely cut off from the …

Britain’s Financial Services Sector ‘Not Optimistic’ About Getting Access to EU Markets

Britain’s financial services sector won’t get access to the European Union’s markets for the foreseeable future following Brexit, industry officials said on Thursday as a row with France simmers. Britain fully left the EU on Dec. 31, 2020 and the …

Impact of Brexit on City of London Is Worse than Expected: Study

LONDON – Over 400 financial firms in Britain have shifted activities, staff and a combined trillion pounds ($1.4 trillion) in assets to hubs in the European Union due to Brexit, with more pain to come, a study from New Financial …

Britain Shouldn’t Blindly Adopt EU Rules Just to Keep Business in London: BoE’s Brazier

LONDON – Britain should not be “short-sighted” and copy European Union rules just to keep financial activity in London, Bank of England executive director for financial stability Alex Brazier said on Monday. The City of London was cut adrift from …

What Has Changed After Brexit for London’s Financial Center?

LONDON — Britain and the European Union agreed a new post-Brexit financial services pact on Friday that will allow them to cooperate on regulation but does little to improve the City of London’s access to the bloc. Britain left the …

City of London Is Realizing that EU Will Limit Access for Financial Services: Lawmaker

LONDON – There is a growing realization that Britain should not wait for unlikely European Union access for financial services but get on with building a more competitive City of London, a senior lawmaker said on Thursday. Britain left the …

UK and EU on Track to Agree on Financial Services Cooperation – but Trust Must Be Built

Britain and the European Union are on course to agree a deal on regulatory cooperation in financial services this month, but the UK’s actions in Northern Ireland makes it harder to build trust, the bloc’s financial services chief said on …

Britain Must Think ‘Creatively’ About Keeping London Competitive for Financial Services

Brexit starts a new chapter for Britain to think “creatively” about keeping the UK an attractive location for international financial services companies, Britain’s finance minister Rishi Sunak told the Bank of England. Britain left the EU’s single market on Dec. …