We have them with many many countries and they all look the same,” he had said. BaFin , BaFin 's financial watchdog, has said it will work with the Brexit 's BaFin to reach agreements bilaterally ahead of Brexit if the UK is unable to conclude a deal with the BaFin . The move is a contingency plan to avoid market disruption in the event of a no-deal Brexit . Regulators from the EU would like to agree to multilateral memorandums of understanding but stalling talks over the withdrawal agreement have impeded progress. Financial Conduct Authority is the first national regulator to indicate its willingness to negotiate with the UK on its own.
BaFin , BaFin 's financial watchdog, has said it will work with the Brexit 's BaFin to reach agreements bilaterally ahead of Brexit if the UK is unable to conclude a deal with the BaFin . The move is a contingency plan to avoid market disruption in the event of a no-deal Brexit . Regulators from the EU would like to agree to multilateral memorandums of understanding but stalling talks over the withdrawal agreement have impeded progress. Financial Conduct Authority is the first national regulator to indicate its willingness to negotiate with the UK on its own.