UK financial sector calls for deep ties with EU post Brexit - Reuters

Paul Manduca, Chairman of TheCityUK’s advisory council and a senior UK financial sector official told at a promotional body’s annual dinner on Wednesday, the UK’s financial sector needs stability to secure its future, along with deeper access to the European Union (EU) market after the Kingdom leaves the EU, Reuters reports. 

Key Quotes:

“We want markets to continue to operate smoothly, without disruption.” 

“As we get closer to March 29 the need for clarity is becoming ever more urgent.”

The financial sector wants market access for both Britain and the EU that has more “depth and certainty” than the bloc’s existing “equivalence” trading regime.

“Any new arrangements should be as robust as the EU regime that we have helped build as members. But we must also have the flexibility to ensure our regulatory system reflects the unique aspects of the UK economy and the global opportunities ahead.”