City waits for divergence, or maybe equivalence

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City waits for divergence, or maybe equivalence

Sunak_PA_575x375_12January2021
Britain’s newly appointed Chancellor Of The Exchequer Rishi Sunak arrives at the Treasury following Boris Johnson’s Government reshuffle, London on February 13, 2020. (Photo by Alberto Pezzali/NurPhoto) | Alberto Pezzali/NurPhoto/PA Images

Anyone who thought the culmination of a trade deal between the EU and UK would provide a shining ray of clarity for financial services as to the level of market access between the two has been proved wrong. Little progress on regulatory equivalence decisions has been made, and while this points the way towards divergence, it is still unclear how exactly the UK would go about this.

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