EU's finance chief issues Brexit warning over city of London access

Pedro Gonçalves
clock • 2 min read

The European Union has said it would not allow the City of London access to European markets if the UK does not continue to follow its rules closely post Brexit. Valdis Dombrovskis, the EU's financial services chief, told the FT the UK would be granted access through the ‘equivalence' system that firms from countries like the US currently use.However, he added that should the UK decide not to be closely aligned with the EU's rules, including those on ensuring financial stability and protecting consumers, access could be cut off.  "The more systemically important the market is for the ...

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