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UK Seeks 'Expanded' Post-Brexit Equivalence Regime For City

Law360, London (July 12, 2018, 2:51 PM BST) -- Britain wants a bespoke regulatory regime with the European Union based on “expanded" equivalence for its financial services, which will mean less access to EU markets for banks and insurers, the U.K. government said in a formal proposal published Thursday.

Prime Minister Theresa May called for a regulatory equivalence arrangement with the EU that goes further than what Brussels already offers to countries outside the bloc. May said these existing models lack sufficient scope to cater for the “highly interconnected” financial markets of Britain and the...
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