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Showing posts with the label Cooperation Plan.

News Business Financial ServicesBritan and The E.U. Agreed on a New POs Brexit Financial Service Cooperation Plan.

  cnbc.com Britain and EU strike financial services cooperation pact Reuters 3-4 minutes Britain and the European Union agreed a new post-Brexit financial services pact on Friday that will allow them to co-operate on regulation but does little to improve the City of London's access to the bloc. Britain's finance ministry said the two sides have agreed terms on a "Memorandum of Understanding" that will set the conditions for how regulators from the EU and Britain share information. However, Brussels has said the MoU will not automatically lead to Britain's large financial industry being able to sell a wide range of products and services to EU clients again. Industry experts said while the framework was useful, it was unlikely to rekindle anything like the kind of access banks and brokers had to the EU before Britain left the bloc. Brexit has already put a dent in Britain's fi