U.K., EU Brexit Forum Seeks Dialog on Finance Market Access
- MOU calls for transparency around equivalence process
- Agreement was reached last week and is still to be signed
Commuters cross London Bridge in the City of London.
Photographer: Jason Alden/BloombergThis article is for subscribers only.
The newly-agreed forum between Britain and the European Union will seek “transparency and appropriate dialog” about cross-border financial market access, according to the accord reached last week for post-Brexit regulatory cooperation.
That marks a slight change from earlier drafts that said the two sides would have “informal consultations” on equivalence. The agreed version also no longer explicitly commits the two sides to discuss taxes on the financial industry, as an earlier EU draft did, according to a person with knowledge of the document.