French financial markets regulator the Autorite des Marches Financiers has asked UK-based firms with offices in France, and French companies with British clients, to outline their Brexit preparations. The move follows a warning from France’s finance minister that it would be “very difficult” for France to continue trading freely on its own after Brexit. France’s financial markets regulator said on Thursday it had written to British-based investment firms active in the country and French firms with UK clients to ask about their preparations for Brexit. Some fund managers say the letters are premature, urging the regulator to wait until a transition deal is agreed. Paris backs proposals to tighten rules governing how funds manage investments across borders.
French financial markets regulator the Autorite des Marches Financiers has asked UK-based firms with offices in France, and French companies with British clients, to outline their Brexit preparations. The move follows a warning from France’s finance minister that it would be “very difficult” for France to continue trading freely on its own after Brexit. Some fund managers say the letters are premature, urging the regulator to wait until a transition deal is agreed. Paris backs proposals to tighten rules governing how funds manage investments across borders.