European Authorities Urge Financial Firms to Keep Planning for Brexit in 2019
Posted: Tue Mar 20, 2018 10:12 am
The heads of European supervision of the banking industry are continuing to insist that banks need to commit to setting up subsidiaries in continental Europe before the date of Brexit. The news comes despite the announcement earlier this week of a transition deal that is set to expire in December 2020.
The preliminary agreement still hasn’t been finalized with the Irish border dispute remaining a cornerstone. EU banking regulators have set out a deadline for the end of June this year for the firms that are willing to operate in Europe to apply for Eurozone banking licenses.
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