Draft Brexit deal: UK set for restricted financial markets access under equivalence

Regime only covers quarter of EU cross-border financial services business

Mike Sheen
clock • 3 min read

UK financial services firms are set for more restricted access to European Union (EU) markets under the bloc's equivalence regime following the agreement of a draft Brexit deal, which could force asset and wealth managers to have a permanent presence in the EU27 if they want to continue to do business within the single market.

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