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UK secures no enhancements in future EU monetary companies entry

LONDON (Reuters) – Britain secured no enhancements to its proposed future buying and selling relations in monetary companies with the European Union after Brexit, in accordance with a draft doc on Thursday that has been agreed in precept.

The three paragraphs on future relations in monetary companies are little modified from an preliminary draft launched final week, the doc seen by Reuters confirmed.

Britain, Europe’s largest monetary centre, is obtainable EU market entry based mostly on the bloc’s “equivalence” system, which is accessible to all non-EU states, whereby entry is granted if a overseas financial institution’s home guidelines stay carefully aligned with these within the bloc.

Reporting by Huw Jones and Andrew MacAskill, enhancing by Gareth Jones

Our Standards:The Thomson Reuters Trust Principles.

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