Brexit financial services News

UK, EU Remain at Odds over Financial Services’ Market Access

Britain wants a stable relationship with the European Union for “decades to come” in financial services, Britain’s finance minister Sajid Javid said on Tuesday, but received an instant rebuttal from Brussels. Britain left the EU last month and its large …

Factbox: What’s Ahead for UK Financial Services Sector and Brexit Trade Deal?

Britain leaves the European Union at 2300 GMT on Friday but has yet to negotiate a deal on future trading relations with the bloc. The EU is Britain’s biggest market for financial services, worth about 26 billion pounds ($34.2 billion) …

U.K. Financial Services Firms Prepare for Worst in Brexit Trade Talks

Britain’s finance sector is losing hope of securing even basic access to European Union markets from Dec. 31, as talk that the EU wants UK fishing rights in exchange draws the industry into a political struggle between the bloc and …

U.K. Financial Services Firms Pay Record Taxes with Future Prospects Clouded by Brexit

Britain’s financial industry paid a record near-$100 billion in taxes in the year to March, reaffirming its central role in funding the state at a time when its future prospects have been clouded by Brexit. The 75.5 billion pounds ($99.2 …

City of London’s Unity Begins Cracking over Brexit Trade Deal: Opinion

Boris Johnson’s triumphant U.K. election victory makes Brexit a near certainty next month. For the City of London, Britain’s split from its biggest trading partner is a huge leap into the unknown; one that will test its cohesion like never …

UK Financial Services Sector Remains Resilient Ahead of Brexit: Research

Britain’s exports of financial and related services rose to 83 billion pounds ($106.5 billion) last year, with the European Union still the biggest customer, underscoring the importance of retaining market access to the bloc after Brexit. The latest figures compiled …

New EU Brexit HQs Opened by U.K. Financial Firms Face Watchdog Checks in 2020

New European Union hubs opened by British-based financial firms to avoid Brexit disruption will be scrutinized next year by the bloc’s markets watchdog to check whether they are gaming licensing requirements. This signals how the bloc will keep up pressure …

U.K. Aims to Ensure Post-Brexit Strength of Financial Services Sector: Minister

Britain will do whatever it can to ensure that its financial sector remains a major global player after Brexit, financial services minister John Glen said on Monday. “This government absolutely believes in the City,” Glen told a conference in London, …

London Financial Firms at Risk of Being Cut Off from EU After Brexit: Official

Intense dialog between British and European Union financial regulators must start now or London risks being cut off from the bloc after Brexit, a top banking lobbyist said on Wednesday. Banks, insurers and asset managers in Britain currently have unfettered …

Post-Brexit Trade Deal for Financial Services Less Vital as UK Firms Set Up EU Hubs

The growing tally of UK-based banks, insurers and asset managers opening hubs in the European Union means that a post-Brexit trade deal in financial services may be of limited importance to either side, the New Financial think tank said on …