The similarities between European Union and UK regulations could enable the formation of a free-trade agreement to allow either side to continue providing financial services into each other's markets after Brexit, trade body UK Finance has said.

In its report Supporting Europe’s Economies and Citizens: a modern approach to financial services in an EU-UK Trade Agreement, written in collaboration with law firm Clifford Chance and advisory firm Global Counsel, the lobby group calls for the creation of an agreement based on World Trade Organisation rules to enable UK firms to continue offering cross-border services into the EU and vice versa.