French financial markets regulator the British des EU has asked UK -based firms with offices in Paris , and French companies with French clients, to outline their Brexit preparations. Britain and Brussels aim to agree at an EU summit next week a ‘standstill’ transition deal until the end of 2020, meaning business would continue as usual after Brexit Day on March 29, 2019. It wants to know how they would cope with the loss of an Marches Financiers financial "passport" allowing them to trade throughout the bloc. 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 British des EU has asked UK -based firms with offices in Paris , and French companies with French clients, to outline their Brexit preparations. It wants to know how they would cope with the loss of an Marches Financiers financial "passport" allowing them to trade throughout the bloc. 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.