The document was widely anticipated to be released before the end of March and still needs formal sign off, a matter which can be done expeditiously as per the released text.
But despite this, bankers who have spoken to CNBC feel the industry has continually been neglected throughout Brexit talks and they re not confident the agreement changes the outlook, especially as regulatory cooperation will be voluntary and not binding on the EU.
Financial services make up 7% of the U.K. s total output, and 10% of government tax receipts, but the industry was not a part of the zero tariff-zero quota deal concluded on Dec. 24, as the matter was being negotiated separately.
Working from home here to stay, UK survey shows
Bloomberg
Working from home is likely to remain after the COVID-19 pandemic ends, according to a survey of 2,000 companies in the UK, most of which are planning to allow employees greater flexibility on where and when they do their jobs.
Two-thirds of companies are developing a hybrid work model where people spend only part of the time in the office, said the Chartered Institute of Personnel and Development (CIPD), a professional group for human resources staff.
About 71 percent of employers said having staff at home either boosted productivity or made little difference.
The European Union will struggle to force a large-scale migration of euro swaps clearing onto its shores without causing serious harm to its own banks as well as EU regulators’ ability to police these markets, industry experts have warned.
The EU has captured a large chunk of euro interest-rate swaps trading activity this year amid a post-Brexit regulatory impasse with the UK. But there has been no mass movement of euro interest-rate swap clearing out of London, with the UK’s LCH still accounting for roughly 96% of new clearing volumes in January and February, according to data from research and analytics firm ClarusFT.
Home working is likely to remain after the pandemic finishes, according to a survey of 2,000 companies the U.K., most of which are planning to allow employees greater flexibility on where and when they do their jobs.
CIPD, the professional group for human resources staff, said two-thirds of companies are developing a hybrid work model where people spend only part of the time in the office. About 71% of employers said having staff at home either boosted productivity or made little difference.
The findings add to the debate about what the workplace will look like once the U.K. drops its request for people to do their jobs from home if they can. After previous lockdowns, Prime Minister Boris Johnson’s government was aggressive in encouraging a return to office. Since then, the habit for home working has become more entrenched, with many saying they want more flexibility.