London-Based Regulators in EU's Sights for Post-Brexit
- Drug, bank regulators seen relocating after U.K. leaves bloc
- Governments jostle to host EMA and EBA, seeing jobs, prestige
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The European Union insists on no cherry-picking by the U.K. in the coming Brexit negotiations, but many of the remaining 27 governments are jockeying for some possible plums for themselves.
In their sights are two of the bloc’s most influential regulatory bodies -- the European Medicines Agency and the European Banking Authority -- now housed in London but almost certainly relocating to other EU cities after Brexit. As well as the prestige of hosting an influential EU body, countries see the benefit to their domestic markets if hundreds of European experts are located there.