Article taken from: s.chinadailyhk.com
EU, UK Near Post-Brexit Accord on Finance Regulation Forum By Bloomberg Friday, February 26, 2021, 18:50 By Bloomberg In this Jan 7, 2021 photo, London buses pass through the City of London in view of skyscrapers in London, UK. PHOTO / BLOOMBERG) Britain and the European Union are nearing agreement on how to cooperate on financial market rules – a first, limited step toward working together after Brexit. The two sides are proposing a joint forum for discussing regulations and sharing information, though this accord won’t require them to open markets through so-called equivalence decisions, according to a draft memorandum of understanding seen by Bloomberg News. The forum would lead to “informal consultations concerning decisions to adopt, suspend or withdraw equivalence,” according to the draft. […] The lack of an agreement so far has put London’s decades-long dominance of European finance under threat.
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