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UK banks face 'acutely short' timeframe for Brexit equivalence decisions, say UK lawmakers

By Fiona Maxwell ( January 10, 2020, 12:40 GMT | Insight) -- UK banks and other financial entities are unlikely to know by June whether they will be able to access EU markets after the Brexit transition period, UK lawmakers warned today. The comments from a House of Lords committee add to concerns raised by the private sector that the necessary “equivalence” assessments won’t happen on schedule, potentially leaving UK lenders unable to trade with clients in the EU after the Brexit withdrawal period. UK banks and other financial entities are unlikely to know by June whether they will be able to access EU markets after the Brexit transition period, lawmakers in London warned today, casting doubt on a forecast by the UK government and European Commission....

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