About 1,000 Finance Firms Eyeing Post-Brexit Outposts in U.K.
- About two thirds of FCA applicants expected to open offices
- Finance firms lost passporting rights after U.K. left the EU
This article is for subscribers only.
Around 1,000 European Union finance firms are expected to open their first offices in the U.K. after losing their passporting rights because of Brexit.
Roughly two-thirds of the 1,500 money managers, payment firms and insurers that have applied for regulatory permission to continue operating in the U.K. previously had no physical operations in Britain, according to Financial Conduct Authority records obtained by Bovill, a financial consultancy.