November 1, 2018 / 12:43 PM / 2 years ago

Barnier says EU may grant or withdraw equivalence in financial services

European Union's chief Brexit negotiator Michel Barnier speaks to the media at an European Union leaders summit in Brussels, Belgium October 17, 2018. REUTERS/Yves Herman

BRUSSELS (Reuters) - The EU’s chief Brexit negotiator Michel Barnier denied on Thursday a Times report of a deal with London on post-Brexit financial services, saying the EU could grant and withdraw equivalence for some financial services on its own.

The newspaper reported that a tentative deal had been reached on all aspects of a future partnership on services after Britain leaves the bloc next March, allowing UK companies to operate as they now do in Europe under an equivalence regime.

“Misleading press articles today on Brexit & financial services,” Barnier tweeted.

“Reminder: EU may grant and withdraw equivalence in some financial services autonomously. As with other 3rd countries, EU ready to have close regulatory dialogue with UK in full respect for autonomy of both parties.”

Reporting By Jan Strupczewski; editing by John Stonestreet

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