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EU access procedure for UK finance unlikely to change, BOE’s Woods says

By Fiona Maxwell ( February 5, 2021, 14:51 GMT | Insight) -- The EU is unlikely to change its approach to granting "equivalence" to financial services companies, the BOE's Sam Woods has said, despite the UK having no plans to weaken its financial services regulation. Woods and ECB chair Andrea Enria also said that the toughest part of the Covid-19 disruption for banks might be still to come.The UK’s lead prudential regulator said he is not holding his breath on Brussels adopting a less prescriptive approach to allowing City of London firms access to the EU, despite similarly robust standards in both jurisdictions. ...

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