Brexit

UK should rethink how foreign firms access its markets, says lobby group

UK rules could be updated to enable more firms to establish regulated branches in the UK as opposed to subsidiaries

The IRSG's recommendations come a week on from the UK chancellor saying the UK would push ahead with its own regulatory reforms amid ongoing reluctance from the European Union to offer UK finance firms access to its markets on the basis of equivalence
The IRSG's recommendations come a week on from the UK chancellor saying the UK would push ahead with its own regulatory reforms amid ongoing reluctance from the European Union to offer UK finance firms access to its markets on the basis of equivalence Photo: Bloomberg via Getty Images

The UK government needs to rethink rules governing international financial institutions’ access to its markets post-Brexit to attract business from new markets, according to a new report from an influential group of financial law specialists. 

The paper, published by the International Regulatory Strategy Group in partnership with law firm Hogan Lovells, called for UK policymakers to issue new guidance to help overseas firms “understand what services they can provide to UK users of financial services, either with or without authorisation in the UK”.

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