EU cannot complete assessment on financial market access for UK, says official

FILE PHOTO: England and the City of London financial district in London, Britain, November 5, 2020. REUTERS/John Sibley

LONDON (Reuters) – The European Union cannot yet complete its assessments for granting Britain access to the bloc’s financial market despite London and Brussels agreeing a trade deal, a European Commission official said on Thursday.

The EU executive said it wants a “series of further clarifications” on how Britain will diverge from EU rules after Dec. 31.

“For these reasons, the Commission cannot finalise its assessment of the UK’s equivalence in the 28 areas and thus will not take decisions at this point in time. The assessments will therefore continue,” the official said.

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