New FCA chief tells City: ‘We are committed to open markets’ post-Brexit November 12, 2020 The Financial Conduct Authority (FCA) is committed to maintaining open financial markets following the end of the Brexit transition period, warning that not doing so will disrupt the city. Speaking today at Mansion House in an address to city regulators, new chief executive Nikhil Rathi said the watchdog had been keeping its focus on readiness [...]
Editorial: Downing Street’s political infighting mirrored in Brexit strategy November 12, 2020 Downing Street's political infighting mirrored in Brexit strategy
UK regulators prepared to intervene if Brexit disrupts markets, says FCA November 12, 2020 British regulators are prepared to intervene if the UK’s full departure from the European Union on 31 December risks disrupting financial markets, an executive from the Financial Conduct Authority (FCA) said. While Britain has already left the bloc, post-Brexit transition agreements gives banks and trading platforms full access to EU markets until the end of [...]
City of London to be shut out of EU with no equivalence deal from January November 12, 2020 Brussels looks set to lock the City of London out of European markets from 1 January, with the EU not planning on granting regulatory equivalence for the whole bloc before the end of the Brexit transition period.
UK must ‘knuckle down’ to get EU trade deal, says Irish PM November 12, 2020 The UK must “knuckle down” to secure a post-Brexit trade deal with the EU, the Irish prime minister has said. Taoiseach Michael Martin said failing to reach an agreement would be “very, very damaging all round”. The UK is running out of time to secure a trade deal with the bloc before the transition period [...]
Customs chaos looms as ‘haulier’s handbook’ delayed for a month November 11, 2020 Hauliers will have just three weeks to familiarise themselves with the new regulations for transporting goods into the EU from 1 January, it was revealed today. The so-called “Hauliers’ handbook” had been due to be released at the beginning of November but will now be unveiled in full on 7 December. Speaking to the Parliamentary [...]
Brexit: UK-EU trade talks unlikely to yield breakthrough by this week’s deadline November 11, 2020 The UK and EU are reportedly not on track to hit this week’s deadline to seal a post-Brexit trade deal. Sources close to the negotiations told Reuters that talks are set to drag into next week, despite both sides’ commitment to “redouble” efforts, as disagreements on fisheries and state aid policy continues to prevent serious [...]
Ministers to block foreign takeovers of UK firms under new law November 11, 2020 The government will today unveil legislation which will enable ministers to intervene and block firms in hostile states from taking over UK companies. Under the National Security and Investment Bill, it will be mandatory for deals involving firms in 17 sectors deemed of strategic importance to be notified to officials. In addition, the government will [...]
90 per cent of UK trade not covered by free trade deals post-Brexit November 10, 2020 Only 10 per cent of all UK cross-border trade will be covered by current free-trade agreements after 31 December, City AM understands. Fifty-two countries currently have free trade deals in place with the UK for the end of the Brexit transition period. These agreements account for only 10 per cent of the UK’s total cross-border [...]
New law to probe foreign takeovers to be unveiled this week November 10, 2020 A new law which will enable ministers to scrutinise foreign takeovers of companies deemed of national importance will be published on Wednesday. Sky News reported that the National Security and Investment Bill will list 17 sectors of strategic significance that will need governmental approval for transactions. Sources told Sky that these would include nuclear energy, [...]