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UK Finance Sector Shifts £800B In Assets To EU, Report Says

Law360, London (January 7, 2019, 1:27 PM GMT) -- Companies in Britain’s financial services sector have transferred assets worth almost £800 billion ($1 trillion) from the U.K. to rival cities in the European Union since the Brexit referendum, according to a report from the EY accounting firm published Monday.

Frankfurt, pictured, is among the EU cities luring banks and insurers from London as a report reveals financial services businesses in the U.K. have transferred almost £800 billion ($1 trillion) in assets to rival destinations. (AP) The report, which tracked the Brexit preparations of 222 financial services and insurance firms since Britain voted in June 2016 to leave the EU, found...

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