Financial lobby group calls for extra Brexit transition period

The Association for Financial Markets in Europe (AFME) has warned that the two-year negotiating period for Brexit talks is not long enough for banks, investors and financial regulators to prepare for the new rules that will come into force after the UK leaves the EU. The lobbying group says London and Brussels should agree a on transition period to allow “market participants and supervisors […] time to prepare effectively”. It cited a study conducted for the lobby group by PwC which suggests that “a further three years will be required to adapt” following the completion of the two-year negotiation period.

The Daily Telegraph   Independent i, Page: 39   Financial Times