Bespoke Brexit deal 'achievable' and not cherry picking, City watchdog argues

Jurgen Klopp's Liverpool team will be trying to stay in Europe when they take on Roma in the Champions League semifinal first leg on Tuesday

Speaking to City A.M. on the sidelines of the City Week conference, held at London's Guildhall, Dombrovskis said: "We expect close cooperation in the financial sector with the United Kingdom after Brexit - close regulatory and supervisory cooperation".

Britain has proposed a future trade agreement with its financial services unit, based on a bilateral recognition of regulations in the sector, and this model is expected to be maintained through close co-operation between regulators and legislators.

But so far European Union policymakers have so far rejected the idea, saying it has never been done before on such a scale.

Financial Conduct Authority chief executive Andrew Bailey said that without a fully secured transition period - which is not yet legally binding - the risks could impact both Britain and the bloc.

"Some of the views from member states who are more economically liberal, more outward looking, who regret most our departure, are much more pragmatic about out future relationship".

Catherine McGuinness, policy chief for the City of London, home to the Square Mile financial district, said mutual recognition was the "only game in town".

The so-called equivalence system is based on Brussels granting access to the European Union for banks, insurers and asset managers from outside the bloc if the bloc deems their home rules to be similar enough.

76ers aim to take next step in process vs. Heat
Philly is competing in the postseason for the first time since 2012 but their young squad hasn't been overawed by the occasion. But the Sixers won Game 1 by 27 points and Game 3 by 20, a hint that the series has not been as balanced as Redick has warned.

Last December Switzerland's stock exchange was only given temporary equivalence access, angering the Alpine state, whose minister for worldwide finance, Joerg Gasser, cautioned Britain about going down the same road.

"I have no doubt that the end of this public negotiation, we will find a solution".

The head of the City watchdog has attempted to keep bankers' Brexit hopes alive hours after a top European Commissioner shot down plans for a so-called mutual recognition deal.

Financial stability is far too important to engage in a standoff.

"European trade in financial services to the City is obviously important. but it is not life and death", Blackwell said.

Some EU policymakers fear that Britain will ease rules for banks in a bid to keep London as a dominant global financial centre after Britain leaves the EU next March. But John Glen dismissed the possibility by saying that London did not intend to make drastic changes after Brexit.

"For the moment we can not assume that such arrangements will be in place and so the United Kingdom authorities have also set out plans for unilateral action in the United Kingdom to minimise cliff-edge risks, providing continuity for firms doing business in the United Kingdom and confidence for their customers", he said in a speech prepared for the City Week conference at Guildhall in London.

Related News:

  • Nigerian troops intercept Boko Haram wives

    Nigerian troops intercept Boko Haram wives

    During the operation, troops encountered elements of Boko Haram insurgents who were withdrawing hastily from the camp. Texas Chukwu , the Director, Army Public Relations, one terrorist was killed while several others fled.
    Sears CEO Says His Firm Would Buy Retailer's Kenmore Brand

    Sears CEO Says His Firm Would Buy Retailer's Kenmore Brand

    But some analysts have cautioned that selling off Sears' best brands could leave shoppers with fewer reasons to visit its stores. The offer by ESL, if formalized, is expected to further accelerate the rationalization and scale back efforts for Sears.
    Dispose of unwanted prescriptions at Saturday drop-off

    Dispose of unwanted prescriptions at Saturday drop-off

    DEA remains committed to supporting public safety in American Indian and Alaska Native communities. This initiative addresses a vital public safety and public health issue.
  • Guentzel scored four goals as Penguins eliminate Flyers

    Guentzel scored four goals as Penguins eliminate Flyers

    Flyers goaltender Michal Neuvirth struggled and gave up seven goals on 27 shots before an empty-netter served as the eighth tally. Couturier missed Game 4 with the right-knee injury but had enough strength and playoff toughness to fight through the pain.
    Uranus smells like rotten eggs, scientists find

    Uranus smells like rotten eggs, scientists find

    The researchers say these differences in atmospheric composition shed light on questions about the planets' formation and history. Fletcher is the co-author and a recipient of the senior research fellowship at the University of Leicester.

    Horse race bet with William Hill

    How to place a bet To place your wager/bet, all you need is to provide the appropriate information to the ticket writer. Simply you just have to pay £1horse bet and you can easily watch the live horse racing broadcast on your device.
  • How Miracle Emerged Big Brother Naija - Double Wahala Winner

    How Miracle Emerged Big Brother Naija - Double Wahala Winner

    He also won a million naira as the housemate with the overall fastest time in the Friday arena games. The victor of Big Brother Naija Season 3, Miracle has written a short post of gratitude to Nigerians.
    Throw All Romaine Away, Washing Won't Do the Trick — CDC

    Throw All Romaine Away, Washing Won't Do the Trick — CDC

    The source of these cases has not been identified, but the AHS does not believe they are linked to the initial outbreak. Anyone with these symptoms should see a doctor immediately and report the infection to local health departments.
    Alexis Sanchez lifts lid on 'very difficult' Manchester United spell

    Alexis Sanchez lifts lid on 'very difficult' Manchester United spell

    I demand a lot from myself every match, every day, I am happy to win today and for the team'. Have your say in the comments section below.
  • MI  golfer attacked by goose, goes viral

    MI golfer attacked by goose, goes viral

    As the website reports, it happened shortly after Concord High School's Isaac Couling left the tee box on hole No. 7. Blissfield athletic department photographer Devon Pitts captured the series of events.
    Death penalty to rapists:Delhi HC asks GoI about POCSO ordinance

    Death penalty to rapists:Delhi HC asks GoI about POCSO ordinance

    Under the new changes those who are found guilty of raping a child under the age 12 will automatically face the death penalty . Lawyer Vrinda Grover said the provision of fast track courts in the Ordinance is misleading as there are not enough judges.
    Where is 2018 NFL Draft?

    Where is 2018 NFL Draft?

    That probably won't be the case in the first round this year despite the fact he floated the idea last week. Philadelphia has no pick in round two or three, and the Eagles don't pick till the end of round four.

Most liked

Rain showers develop tonight; Wet Wednesday with temps in the mid-50s
More rain expected Sunday night through Monday morning with lows in the mid 50s and highs staying in the low 60's. High clouds continue to build across our area now and skies remain mostly cloudy through the evening and night.

49ers GM says Reuben Foster's future hinges on case
The 49ers started their offseason program on April 16, but Foster is not participating . The San Francisco won't cut linebacker Reuben Foster until the legal process plays out.

Follow the White House press briefing
United States president Donald Trump has accepted an invitation of the North Korean leader Kim Jong-un for a summit meeting. Neither South Korea nor the United States has diplomatic relations with North Korea.

PSL promise justice to perpetrators of fan violence
In a video, fans could be seen kicking and beating the guard with chairs and other unidentified objects. One fan kicked him in the upper chest, a kick that collapsed her to the ground.

Saudi Warplanes Attack Wedding Party in NW Yemen, Killing Dozens
This is the latest in a series of Saudi airstrikes that have killed thousands of civilians over three years of war in Yemen. This breaking news story is being updated and more details will be published shortly.

Flight Records Contradict Trump's Alibi for Mysterious Moscow Visit in 2013
In fact, Trump arrived in Moscow, where he attended the Miss Universe pageant, which he owned at the time, on a Friday. The plane arrived in Moscow at 6:15 a.m on a Friday and departed Russian Federation at 3:58 a.m. on Sunday.

Leafs 3, Bruins 1: Talk about a forced Game 7
Game 7 goes Wednesday night in Boston. "We can't expect to score five goals every game, so we can't be giving up four [goals]". The Leafs were able to hold off the Bruins trio thanks to Andersen, who took up where he left off in Game 5.

Family Of Avicii Issue Statement Following DJ's Death
"Two post mortems were carried out", Royal Oman Police said, confirming there was "no criminal suspicion ". All the other parts of being an artist.

Houston police: Woman sets car on fire with children inside
A mother in Houston was arrested Sunday after allegedly setting fire to a auto while inside with her three children, police said. She tried to run away, but tripped and officers arrested her after a short struggle, police said.

OnePlus 6 Glass Back Confirmed
The upcoming phone will also come with their hallmark DashCharger which is one of the best fast charging technology so far. It will definitely have a premium feel and high-end specs up to 8GB RAM and 256GB of onboard storage.

Video shows Minnesota fugitive grandmother's arrest in Texas
Both Florida and Minnesota authorities have been given a 10 day window to pick her up and transport her to their state. About 20 minutes later, US Marshals arrested Riess at another restaurant near Dirty Al's, based on Higginbotham's tip.

Armenian opposition leader says will hold talks with acting PM on Wednesday
The politician added that if the "street" was against him as prime minister, he would step down. Ultimately, Sargsyan stepped down as prime minister on April 23.

Liverpool manager Jurgen Klopp calls for Roma respect amid Anfield cauldron
The Egypt global moved to Liverpool FC in a £39m deal from Serie A giants AS Roma in the 2017 summer transfer window. He is an obvious threat to Roma as Liverpool seek...

Thousands Of Jubilant Napoli Fans Welcome Team After Juve Win
Massimiliano Allegri's side face a trickier run-in, as they will face Inter Milan and Roma. Roma and Lazio both have 67 points from 34 games with Roma ahead on head-to-head clashes.

Without a seat at the table, customs union membership is worthless
Downing Street has insisted she is still promoting both plans in negotiations with Brussels and does not have a preferred option. Mrs May's spokesman said BBC reports that she was contemplating calling a confidence vote were an "absolute mystery to me".