UK: London could lose out to New York under draft EU finance deal - document
LONDON (Reuters) - The City of London’s finance industry would be worse off than rival New York under an early draft for a cooperation agreement in financial services between Britain and the European Union, a document, seen by Reuters, showed.
Britain’s financial services industry has been largely cut off from the EU, its biggest customer, since a Brexit transition period ended on Dec. 31 as the sector is not covered by the UK-EU trade deal.
Trading in EU shares and derivatives, for example, has already left Britain for continental Europe.