Blog: Britain faces choice over post-Brexit rule-setting freedom, BoE candidate says – Reuters

LONDON, Jan 13 (Reuters) – Exploiting Britain’s freedom to set its own rules could constrain access to the European Union’s financial market, said a candidate for the Bank of England’s supervisory arm.

Britain left the EU’s orbit on Dec. 31 but a trade deal with the bloc does not cover financial market access, which is being handled separately under the EU’s equivalence regime.

“Taking advantage of the freedoms available in leaving the EU may be constrained by the desire to have the UK regime recognised as equivalent,” said John Taylor in a hearing in parliament on his candidacy for the BoE’s Prudential Regulation Committee. (Reporting by Huw Jones; Editing by Alison Williams)

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