About: financial services
Financing and insuring the future
Est. 1minOver the next 5 years, the 'financing transition' will play an integral role in shaping the future of the EU economy and structural infrastructure. This financing transition will be key in implementing EU priorities such as the green and digital …
EU pushes back on IMF criticism of ‘inward-looking’ industrial policies
Est. 8minA senior EU official pushed back on the IMF's recommendation that countries should pursue policies that encourage the diffusion of new technologies, arguing that the EU must sometimes introduce “protecting” measures to ensure its own economic security.
Britain rolls out post-Brexit plans for authorising EU investment funds
Est. 2minBritain set out its "roadmap" for authorising investment funds from the EU to offer products in the UK, a post-Brexit milestone that reflects how most funds sold to retail investors in the country are still listed in the EU.
Ireland: The Ideal Small Nation Solution to Host AMLA
Est. 6minAs the EU prepares for the establishment of the Anti-Money Laundering Authority (AMLA), Ireland’s bid for host reveals its unique position as a small nation with extensive resources and connections to key financial and professional services providers, as well as a friendly and welcoming destination for incoming talent.
EU Commission seeks to regulate financial data access and use
Est. 5minThe European Commission is drafting new rules to regulate the access and use of customer data in financial services, in a bid to ensure customers’ control over financial data and allow consumers to access tailored data-driven products and services.
EU moves closer to UK pact on financial services
Est. 3minThe EU and UK are set to move towards closer ties on financial services regulation after the European Commission on Wednesday (17 May) adopted a draft Memorandum of Understanding (MoU) on the sector.
EU due diligence rules should include finance, Commissioner says
Est. 6minCommissioner for Justice Didier Reynders said the EU executive's goal is to include the financial sector under the EU rules on corporate accountability after it was carved out from mandatory due diligence by member states in their common negotiating position.
EU to give City of London a reprieve over euro clearing
Est. 3minThe European Union gave the City of London a reprieve on Wednesday (10 November), saying it will allow clearing houses in Britain to continue serving customers in the bloc beyond next June, when market access was set to expire.
Amsterdam displaces London as Europe’s top stocks centre after Brexit
Est. 4minAmsterdam has displaced London as Europe's biggest share trading centre after Britain left the European Union's single market, and picked up a chunk of UK derivatives business along the way, according to data published on Thursday (11 February).
Don’t wage battle against the City, UK bank governor urges EU
Est. 3minThe Governor of the Bank of England, Andrew Bailey, on Tuesday (10 February) urged the EU not to wage a regulatory battle against the UK on financial services, warning that “a world in which the EU dictates and determines what rules and standards we have in the UK is not going to work.”
Brexit ‘big bang’ to trigger tectonic trading rift in Europe
Est. 6minEurope will see its biggest transfer of share trading in more than two decades when stock exchanges open for business in 2021, with Brexit shifting its centre of gravity away from London.
EU to throw London lifeline with extension to coveted clearing
Est. 3minThe European Union is expected to throw the City of London an 18-month lifeline to continue clearing euro derivatives after Britain's unfettered access to the bloc ends in January, industry sources said on Tuesday (15 September).
Global banks urge EU to ‘improve’ market access as Brexit looms
Est. 3minInternational banks have called on the European Union to make its system for financial market access more transparent and predictable to avoid hurting markets and consumers.
No Deal Brexit fears prompt financial market angst
Est. 4minThe increasing prospect of a No Deal Brexit is prompting new concerns that there are still ‘substantial’ regulatory gaps between the EU and UK in parts of the financial services sector.
Dombrovskis warns of ‘disruptions’ in case of disorderly Brexit
Est. 3minEuropean Commission Vice-President Valdis Dombrovskis warned on Tuesday (2 April) that UK’s disorderly departure from the EU could cause “disruptions” following decades of financial integration and bring volatility to markets and business operations.
Prepare for higher bank costs and customs delays from ‘no deal’ Brexit, London warns
Est. 5minUK businesses and consumers should brace themselves for tariffs, customs bureaucracy and higher bank charges if the UK leaves the EU without a deal, London warned on Thursday (23 August) in its most serious reality check to date.
UK warns of damage to EU without special deal on financial services
Est. 3minThe UK has repeated its demands for a post-Brexit agreement on financial services to go way beyond the EU’s current standard with third countries in a new government paper, warning that a ‘hard Brexit’ will damage the EU. The paper published …
May’s Brexit blueprint faces backlash after sacrificing services
Est. 5minEven though Theresa May’s Brexit White Paper prompted a furious reaction from a large section of her Conservative party, not to mention a broadside from US President Donald Trump, not everyone was unhappy with it.
Commission defends ‘equivalence’ with UK for financial services
Est. 4minEuropean Commission Vice-President Valdis Dombrovskis told the UK’s financial sector on Tuesday (24 April) that the EU and UK regimes could co-exist together after Brexit, but warned that London would not have a say in the decision-making process.
Brexit financial services deal will be difficult
Est. 6minThe industry has accepted that so-called “passporting” rights will not be possible after Britain leaves the EU. The concept of “equivalence” has been mooted as a solution but even agreeing to that will be difficult, writes Mark Boleat.
UK watchdog calls for finance pact with EU to avoid Brexit chaos
Est. 3minBritish and European Union watchdogs could sign a pact to avoid Brexit disrupting trillions of pounds in cross-border financial contracts and undermine market stability, a top UK regulator said yesterday (5 February).
May, Macron seek common ground to offset Brexit fallout
Est. 7minPrime Minister Theresa May and her French counterpart Emmanuel Macron agreed a new border security deal yesterday (18 January), through which the UK will pay more to France to stop migrants trying to reach British shores.
UK won’t pay to access single market post-Brexit
Est. 3minThe British government yesterday (11 January) ruled out paying the European Union to access the single market after leaving the bloc, as Prime Minister Theresa May tried to reassure finance sector players over Brexit.
EU lawmakers tentatively back Brexit clearing law that could clobber Britain
Est. 4minEuropean Union lawmakers on Tuesday (10 October) gave broad support to a law that could end the City of London's global dominance in clearing euro-denominated financial contracts after Brexit.