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PM’s office rails against EU approach to equivalence after Brexit trading loss

The EU continues to come under criticism for denying the UK full equivalence, which is now costing the City as billions in trading is shifting to the EU
The EU continues to come under criticism for denying the UK full equivalence, which is now costing the City as billions in trading is shifting to the EU Photo: Getty Images

The Prime Minister's office has hit out at the European Union for not granting UK venues the ability to trade EU shares on their platforms, following the news that Amsterdam has taken London's crown as Europe's largest share trading centre.

"Despite the fact that we've supplied all of the necessary paperwork and are one of the world's most preeminent financial centres, with a strong regulatory system, the EU still haven't granted us full equivalence," a spokesman for Prime Minister Boris Johnson said on 11 February, referring to the EU regulators’ process for granting market access to UK firms if the country’s financial rules are deemed similar to its own.

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