February 27, 2020 / 12:16 PM / a month ago

Gove says confident of equivalency assessments by June

FILE PHOTO: Britain's Chancellor of the Duchy of Lancaster Michael Gove walks in Downing Street in London, Britain, January 8, 2020. REUTERS/Henry Nicholls

LONDON (Reuters) - Senior British minister Michael Gove said on Thursday he was confident the European Union would have completed its assessments on the prospects of equivalency in financial services by the end of June.

Britain and the EU have agreed to assess each other for financial market access, a system known as equivalence, by the end of June.

“We hope that the EU will report by June on the prospects for equivalency in financial services,” Gove told parliament.

“That was a commitment that was made in the political declaration it did not appear subsequently in the EU’s negotiating mandate but I am confident that the EU will, by June, have completed those equivalency assessments.”

Reporting by Kylie MacLellan, Editing by Huw Jones

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