Author - Mohammad Haque

Brexit, Single Market and passporting rights

Brexit means United Kingdom is leaving the European Union that effectively means UK will come out of the single market and the customs union. The withdrawal from single market means UK will lose its passporting rights. What is passporting right ? Passporting rights allow UK financial services firms to sell their services and operate across the EEA without significant regulatory barriers. This arrangement gives businesses in financial services to operate in the regulated sector in other EEA states without needing further [...]