French Bank Is First to Lose Post-Brexit Permit to Operate in UK.

The regime was designed as a stopgap to ensure that European firms operating in the UK before the Brexit transition period ended in 2020, could continue to do business while seeking full authorization. (Bloomberg) -- The UK has revoked a French bank's permissions to carry out regulated activity in the City of London after the lender failed to apply for a permanent post-Brexit authorization in time. [Extracted from the article]