More than 45 financial organisations are planning to move parts of their EU operations to Germany due to Brexit, said Felix Hufeld, president of financial markets watchdog BaFin. The German government has also been pushing for a “passport-free zone,” which would allow companies and citizens from the bloc to travel freely across its borders. Reporting by Tom Sims; Editing by Douglas Busvine Around 25 banking licences were being processed in Germany in summer 2018, Hufeld had previously confirmed.
More than 45 financial organisations are planning to move parts of their EU operations to Germany due to Brexit, said Felix Hufeld, president of financial markets watchdog BaFin. The German government has also been pushing for a “passport-free zone,” which would allow companies and citizens from the bloc to travel freely across its borders. Around 25 banking licences were being processed in Germany in summer 2018, Hufeld had previously confirmed.