Britain says it won't undercut EU financial rules
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
FRIDAY, MAY 20, 2022
FRIDAY, MAY 20, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
Britain says it won't undercut EU financial rules

World+Biz

Reuters
04 March, 2020, 05:25 pm
Last modified: 04 March, 2020, 05:25 pm

Related News

  • City of London Brexit hit worse than expected, says study
  • Drifting apart? European firms battle to reach UK clients
  • Britain set to keep door open for EU derivatives customers
  • Britain, EU stress commitment to solve N Ireland border row
  • EU snubs UK envoy amid spat over diplomatic status

Britain says it won't undercut EU financial rules

“There is no secret plan to deviate”

Reuters
04 March, 2020, 05:25 pm
Last modified: 04 March, 2020, 05:25 pm
FILE PHOTO: Participants hold a British Union flag and an EU flag during a pro-EU referendum event at Parliament Square in London, Britain June 19, 2016. REUTERS/Neil Hall
FILE PHOTO: Participants hold a British Union flag and an EU flag during a pro-EU referendum event at Parliament Square in London, Britain June 19, 2016. REUTERS/Neil Hall

Britain has no plans to rip up the rulebook governing its huge financial services sector after the post-Brexit transition period ends, financial services minister John Glen said on Wednesday.

The European Union is the largest export market for Britain's financial firms, whose access will be cut off if there are no new trading terms agreed by January.

The EU must assess whether UK-based banks, insurers and asset managers comply with rules that are "equivalent" or as robust as those in the bloc for granting access.

"There is no secret plan to deviate," Glen told the House of Lord's sub-committee on financial affairs.

Britain was not seeking to differentiate itself through lower standards in financial rules. "The core message that we have is we want to observe the highest standards," Glen said.

Britain wants Brussels to conclude "positive" assessments by June, arguing it has put EU financial rules into UK law.

"We are equivalent to anyone's eyes," Glen said.

EU-UK Relations

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • US growth seen outpacing China’s for first time since 1976
    US growth seen outpacing China’s for first time since 1976
  • Students suffer over costlier food at public university canteens
    Students suffer over costlier food at public university canteens
  • A worker displays grains of wheat at a mill in Beirut, Lebanon, March 1, 2022. REUTERS/Mohamed Azakir/File Photo
    Russia can offer 25 mln tonnes of grain for export starting on 1 Aug: UN envoy

MOST VIEWED

  • Russian President Vladimir Putin chairs a meeting with members of the Security Council at the Novo-Ogaryovo state residence outside Moscow, Russia April 7, 2022. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS
    Putin promises to bolster Russia's IT security in face of cyber attacks
  • Picture: Reuters
    Putin instructs government to assess actions taken against Russia in WTO
  • Saudi Arabia's Crown Prince Mohammed bin Salman attends a meeting with US Secretary of State Mike Pompeo in Jeddah, Saudi Arabia, September 18, 2019/Reuters
    Saudi crown prince signals family unity as succession looms
  • US growth seen outpacing China’s for first time since 1976
    US growth seen outpacing China’s for first time since 1976
  • FILE PHOTO: The United Nations High Commissioner for Refugees Filippo Grandi speaks during a news conference in Stockholm, Sweden March 09, 2022. Anders Wiklund/ TT News Agency/via REUTERS
    Don't forget other crises amid Ukraine focus, UNHCR chief warns
  • US Secretary of State Antony Blinken speaks during a news conference with Ukraine's Foreign Minister Dmytro Kuleba at the State Department in Washington, US, February 22, 2022. Photo :Reuters
    Blinken accuses Russia of using food as a weapon in Ukraine

Related News

  • City of London Brexit hit worse than expected, says study
  • Drifting apart? European firms battle to reach UK clients
  • Britain set to keep door open for EU derivatives customers
  • Britain, EU stress commitment to solve N Ireland border row
  • EU snubs UK envoy amid spat over diplomatic status

Features

Mohammad (Mejbah) Mejbahuddin, Former Senior Secretary, Economic Relations Division (ERD), Ministry of Finance, Government of Bangladesh. TBS Sketch

‘No project is being delayed too long at the moment’

4h | Panorama
Dr Shamsul Hoque, Professor, Civil Engineering, BUET. TBS Sketch

‘Planning commission only in the name, there are no planners’ 

4h | Panorama
Masrur Reaz. TBS Sketch

‘To ensure accountability, contract financing should be based on ‘performance based payments’

4h | Panorama
Professor Mustafizur Rahman. Illustration: TBS

Project delays and escalating costs are driven by frequent revisions and lack of good governance

7h | Panorama

More Videos from TBS

Ways to retain body fragrance

Ways to retain body fragrance

5h | Videos
Gazipur restaurant that serves 150 food items

Gazipur restaurant that serves 150 food items

9h | Videos
How to prepare for a job

How to prepare for a job

10h | Videos
Putin's strategies to face Nato

Putin's strategies to face Nato

22h | Videos

Most Read

1
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

2
Representative Photo: Pixabay.
Bangladesh

Microplastics found in 5 local sugar brands

3
Mushfiq Mobarak. Photo: Noor-A-Alam
Panorama

Meet the Yale professor who anchors his research in Bangladesh and scales up interventions globally

4
A packet of US five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron
Banking

Dollar hits Tk100 mark in open market

5
The story of Bangladesh becoming a major bicycle exporter
Industry

The story of Bangladesh becoming a major bicycle exporter

6
PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire
Crime

PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab