Transition deal gives EU finance firms passporting breather - Britain's FCA

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LONDON (Reuters) – Britain’s financial watchdog said on Wednesday that financial services firms using passporting to do business in the UK do not need to apply for authorisation in the country at this stage, following the latest breakthrough in the Brexit negotiations.

The Financial Conduct Authority said it welcomed the agreement reached on the terms of the transition period that effectively sees Britain become a non-voting member of the European Union from March 29 2019 until the end of December 2020.

This meant “firms and funds currently benefiting…