Banking Law News

As Brexit Nears, Banks Plead for Easier Access to Europe Markets

Jan. 14, 2020, 12:01 AM

With Britain on the verge of quitting the European Union, global investment banks are stepping up lobbying efforts to maintain easy access to the bloc’s lucrative market.

The Association for Financial Markets in Europe, one of the industry’s top advocacy organizations, launched a new bid on Tuesday to convince policy makers in Brussels that they should revamp their approach to awarding foreign-based firms access to clients in the EU. Without revision, the EU’s rules could damage business and even threaten financial stability, the group said.

At issue is the EU’s so-called equivalence process, which allows firms to do business in...

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