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EU should treat Britain's financial services as ‘equivalent’ – UK’s Javid

EU should treat Britain's financial services as ‘equivalent’ – UK’s Javid

The EU should continue to recognize Britain’s financial services industry as meeting equivalent regulatory standards when a Brexit transition period ends next year, finance minister Sajid Javid said on Tuesday.

“On day one we will have exactly the same rules,” Javid said in parliament, after a lawmaker asked him if it would be reasonable for the EU to grant Britain’s insurance industry less access than Bermuda’s.

“As we forge a new relationship with our European friends, financial services will be a key part of it,” Reuters quoted the minister as saying.

Earlier on Tuesday, Javid stated that he wanted a durable relationship over financial services, that would last for decades to come.