Britain's financial services sector should be ready for a no-deal Brexit when a transition period with Brussels expires in December, a senior European Union official said on Wednesday.
LONDON - Britain’s financial services sector should be ready for a no-deal Brexit when a transition period with Brussels expires in December, a senior European Union official said on Wednesday.
Paulina Dejmek-Hack, director of the European Commission’s task force for relations with Britain, said EU assessments on whether UK financial rules were “equivalent” to those in the bloc - which could allow some direct market access to continue from January - were ongoing. “A lot of preparations went into no-deal and it’s important that these kinds of preparations are taken up again,” she told a webinar held by IIF, a global banking lobby.
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