EU regulators urged to give guarantees on Brexit transition

UK banks and insurers want legal protection in case a political deal breaks down

Regulators have made it clear to banks and insurers that they should be prepared for the worst ahead of the UK’s departure from the European Union on March 29, 2019. Now, firms are starting to ask regulators to return the favour.

On January 29, the 27 members of the Council of the EU, excluding the UK, agreed their negotiating position on a transition period between the UK’s departure and the establishment of a new trade deal. It includes elements already proving controversial with some politic