November 22, 2018 / 11:09 AM / a month ago

UK secures no improvements in future EU financial services access

LONDON, Nov 22 (Reuters) - Britain secured no improvements to its proposed future trading relations in financial services with the European Union after Brexit, according to a draft document on Thursday that has been agreed in principle.

The three paragraphs on future relations in financial services are little changed from an initial draft released last week, the document seen by Reuters showed.

Britain, Europe’s biggest financial centre, is offered EU market access based on the bloc’s “equivalence” system, which is available to all non-EU states, whereby access is granted if a foreign bank’s home rules remain closely aligned with those in the bloc.

Reporting by Huw Jones and Andrew MacAskill, editing by Gareth Jones

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