Brexit and Financial Services
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2 Minutes
John Armour discusses the impact of Brexit on financial services. He argues that 'the best outcome for the UK, absent breaking the deadlock on free movement, would be for a negotiated agreement on financial services that offers something more than the patchwork of equivalence provisions...providing 'a more enduring foundation for access by its firms than a unilateral equivalence determination by the Commission' and covering 'payment services, banking activity, and wholesale insurance' in addition to wholesale markets. He also argues that transitional arrangements would be highly desirable.
Keywords:
Brexit: Trade Implications
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