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UK watchdog cautions banks over hasty Brexit moves

International banks in Britain should resist pressure from European Union regulators to shift their non-EU business to new hubs in the bloc because of Brexit, Britain’s markets watchdog said on Monday. Around 30 lenders in Britain have applied to the European Central Bank for a license to open or expand… Read More

‘Operational cooperation’: Brexit deal vague on EU-Britain security ties

Britain has failed to win a guarantee of access to EU security databases once it leaves the European Union, according to a draft deal agreed between London and Brussels on future ties, leaving such co-operation open to negotiation. Britain, along with France, is one of Europe’s biggest military powers and… Read More

Key points in the draft EU-UK Brexit deal

AP — The draft divorce agreement between Britain and the European Union has two parts: a legally binding withdrawal agreement, which runs more than 580 pages, and a looser political declaration on future relations. Some key points: WITHDRAWAL AGREEMENT Transition period: Britain will leave the EU… Read More
4th December 2018
International banks in Britain should resist pressure from European Union regulators to shift their non-EU business to new hubs in the bloc because of Brexit, Britain’s markets watchdog said on Monday. Around 30 lenders in Britain have applied to the European Central Bank for a license to open or expand… Read More
26th November 2018
AP — The European Union has formally approved a divorce agreement with Britain, the first country ever to leave the 28-nation bloc. The deal consists of a legally binding withdrawal agreement that runs more than 580 pages, and a 26-page political declaration on future relations. Some… Read More
23rd November 2018
Britain has failed to win a guarantee of access to EU security databases once it leaves the European Union, according to a draft deal agreed between London and Brussels on future ties, leaving such co-operation open to negotiation. Britain, along with France, is one of Europe’s biggest military powers and… Read More
19th November 2018
AP — British Prime Minister Theresa May fought back against critics of her Brexit deal Saturday, telling opponents from within her party their alternative plans for Britain’s departure from the European Union wouldn’t work. May is battling to win over rebels in her Conservative Party and… Read More
15th November 2018
AP — The draft divorce agreement between Britain and the European Union has two parts: a legally binding withdrawal agreement, which runs more than 580 pages, and a looser political declaration on future relations. Some key points: WITHDRAWAL AGREEMENT Transition period: Britain will leave the EU… Read More
13th November 2018
AP — Brexit is already having an impact on Britain’s labor market, with the number of people from the European Union working in the country falling by a record amount. The Office for National Statistics said Tuesday the number of EU nationals working in Britain fell… Read More
17th October 2018
The United Kingdom will continue to work with the European Union on implementing sanctions after it leaves the bloc, however it may not necessarily fully replicate all aspects of existing EU sanctions, a government statement explained. In recent months, differences between London and Brussels over negotiating a Brexit deal has… Read More
30th August 2018
Britain could choose to withhold some payments to the European Union if a deal to ease its exit from the bloc is not reached before it leaves in March, Brexit minister Dominic Raab told legislators on Wednesday. As part of a Brexit transition deal, Britain has agreed to pay the… Read More
24th August 2018
Britons living in the European Union could lose access to their UK bank account services and businesses on the continent could be cut off from investment banks in London if there is a no-deal Brexit, the British government said on Thursday. In a document detailing contingency planning if Britain leaves… Read More
9th August 2018
HSBC (HSBA.L) has shifted ownership of its Polish and Irish subsidiaries from its London-based entity to its French unit, and will do so for seven more European branches, as it prepares for Britain’s exit from the European Union. HSBC France will also acquire the activities of seven European branches in… Read More
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FATF publishes assessment of UK anti-money laundering, counter terror financing systems

A global anti-money laundering (AML) watchdog has found that the United Kingdom has a ‘robust understanding’ of laundering and terrorism financing threats, but warned it faces significant risks of dirty cash inflows from offshore jurisdictions and foreign criminals. The Financial Action Task Force (FATF) said Britain’s ‘strong’ public-private partnerships are… Read More

Deutsche Bank hit by new laundering report; shares slide again

Deutsche Bank (DBKGn.DE) defended its record in fighting money laundering on Thursday after the Financial Times reported it had processed 31 billion euros ($35 billion) more in questionable funds for Danske Bank (DANSKE.CO) than previously thought. A Deutsche Bank spokesman declined to comment on the FT article. He said, however,… Read More