Law360, London (January 3, 2021, 5:02 PM GMT) — As Britain’s financial services continue to deal with the fallout caused by the coronavirus crisis, one area continues to eclipse the work of the sector: the revamp of U.K. rules as the country is cut off from the European Union’s regulatory hold after the Brexit transition period.
The European Union has left open whether it will grant the U.K.’s financial industry access to its markets from 2021 through equivalence — where the European Commission decides that a country outside the bloc has rules that are equally as stringent as its own.
But lawyers believe that this lack of clarity from the…
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