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8 (a plan that has been proposed since 2016 ). 9 At a Treasury Select Committee meeting on February 24, Andrew Bailey, Bank of England Governor, warned the EU of what he considers to be a very serious escalation over UK financial services, and added that “there’s a point beyond which the deal is not worth having”. The temporary equivalence for UK clearing houses and CCP to be able to clear euro denominated trades ends mid-2022. February 2021 has therefore shown that the sensitivities on financial services still continue post-Brexit. For all types of financial services firms, regardless of their post-Brexit operational readiness, these developments matter as they impact structuring and resourcing options, as London’s European business flows to a more multi-financial center based model.

United kingdomNew yorkUnited statesCity of londonCity ofBruxelles capitaleFrance generalNoord hollandDariusz wojcikDaniel thomasPhilip staffordAndrew baileyInternational trade in financial servicesJournal of international banking law regulationEuropean commissionPartnership council