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British Gov't Maps Out Post-Brexit Gibraltar Financial Ties

Law360, London (December 21, 2018, 2:04 AM GMT) -- The British government laid out several legislative measures on Wednesday to ensure that financial services are disrupted as little as possible after Brexit, ranging from guaranteeing passporting rights with Gibraltar to duplicating securitization law.

Most of the proposed statutory instruments will apply regardless of the terms under which the U.K. leaves the European Union, including plans to transfer responsibility for implementing EU technical standards under the bloc's directives to Britain's own regulators. But the measure covering Gibraltar is designed for a possible no-deal Brexit in a bid to guarantee continued access for financial services firms between the U.K. and its overseas...

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