Insurers Propose 'Light Touch' Trade Deal With Switzerland
Law360, London (July 17, 2020, 5:26 PM BST) -- An insurance trade body has called on the government to allow Swiss insurers to open branches in the U.K. under "light touch" regulation if the two countries can agree to a free-trade agreement in the coming months.
The London Market Group said the arrangement, which would avoid the need for the branches to gain formal authorization from U.K. regulators, could act as a model for free-trade deals agreed by financial services companies with other countries after Brexit.
The U.K. formally recognized Switzerland as having regulatory "equivalence" in June, and will start negotiations in September over a financial services free-trade deal....
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