Nicky Morgan says City could take decades to resolve regulatory relationship with EU

first_img “The story of the next 40 years of this country, or it could be longer, in relation to that future relationship with the EU, is going to be whether we converge, stay the same or whether we choose to diverge and go our own way,” Morgan told a conference yesterday.Britain and the EU aim to secure a “standstill” or business as usual transition deal starting after Brexit next March, but the country will need new trading terms with the bloc from the end of 2020.EU officials have said that the EU’s financial market access system known as equivalence, where Brussels grants access to foreign banks and insurers if their home rules converge with the bloc’s, is probably Britain’s best bet.This week the EU Commission confirmed that EU banks and companies will be able to access UK clearing houses for a limited time in the case of a no-deal Brexit, following months of lobbying by the financial sector. It could take decades for the UK to work out its financial services regulatory relationship with the EU after Brexit, treasury select committee chair Nicky Morgan said. Tags: Brexit James Booth Wednesday 31 October 2018 7:10 pm whatsapp Nicky Morgan says City could take decades to resolve regulatory relationship with EU whatsapp More From Our Partners Connecticut man dies after crashing Harley into live bearnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Sharelast_img

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