Brexit should not lead to restrictions on financial trade – FCA’s Bailey
UK and EU should work together on “mutual recognition”, says Andrew Bailey
The UK and European Union can and should work hard to avoid restrictions on the free trade of financial services after Brexit, the Financial Conduct Authority’s (FCA) Andrew Bailey said today (July 6).
The FCA chief executive told an audience in London he saw no reason why Brexit necessarily implied curbs on free trade, even if the UK leaves the single market. He added he believes it is wrong to suggest that effective supervision is only possible when firms are operating “on your patch” – a
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