Financ­ial firms in Britai­n will lose unfett­ered direct access to invest­ors in blocLONDON: Britain will do whatever it can to ensure that its financial sector remains a major global player after Brexit, financial services minister John Glen said on Monday. “We will strain every sinew to help you flourish.”Financial firms in Britain lose unfettered direct access to investors in the bloc after Brexit and will instead have to rely on the EU’s system of equivalence. Britain sees Brexit as making it possible to negotiating its own trade deals with other countries, and China’s Ambassador to Britain Liu Xiaoming told the conference that Britain and China were already building foundations for strong future cooperation in financial services. Fintech could be a key bridge to deeper China-UK cooperation in financial services, he added. Banks, insurers and asset managers in Britain have opened over 300 hubs in the EU to deal with whatever form Brexit takes.

Source: The Express Tribune October 28, 2019 15:45 UTC