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U.K. Banks May Face Stiffer EU Market-Access Rules After Brexit

  • EU states endorse negotiating stance on investment-firm bill
  • Talks on final legislation can now begin with EU parliament
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How Would a 'Hard Brexit' Affect The U.K. Economy?

U.K. financial firms may soon find that it will be harder to do business in the European Union after Brexit.

EU member states endorsed a bill that tightens the rules that can allow non-EU firms to do business in the bloc. The draft legislation gives the European Commission, the EU’s executive arm, greater power to give foreign firms more limited access to the single market, especially those deemed to be of systemic importance for the EU.