Banks Call On EU To Improve Market Access Ahead Of Brexit

Law360, London (January 14, 2020, 2:26 PM GMT) -- Global banks called on the European Union on Tuesday to improve access to its financial markets ahead of Brexit by making the process more transparent and predictable, while ensuring stability and protection for investors.

The Association for Financial Markets in Europe urged the European Commission to update the regime used by countries outside the bloc to gain admission, known as equivalence. The EU grants financial companies based outside the bloc access to its markets if it recognizes that regulations in their home countries are equally stringent.

The association, which represents banks and asset managers, called on the bloc to improve its...

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