Equivalence won't do for Brexit, say banks

Three executives from global bulge bracket banks have called for more supervisory cooperation over Brexit, particularly on the side of the EU. All three expressed hopes for a Brexit deal that was more bespoke than just third country equivalence.

  • By Nell Mackenzie
  • 11 Sep 2018

Taking existing approaches like third country equivalence off the shelf would not work for financial markets operating between the EU and the UK, said three senior representatives from JP Morgan, Citi and Barclays, as they testified to the UK Parliament's Treasury Select Committee on Tuesday morning.

Because third ...

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