Brexit and the City - How Brexit is affecting London’ position and status

The fortunes of financial centers may swing less wildly than the markets they host, but swing they do. Brexit has robbed the City of London, the capital’s financial district, of much of its swagger. World-conquering ambition has given way to anxious defensiveness.

When the post-Brexit transition period ends and Britain leaves the single market on December 31st, British-registered financial firms will lose the “passporting” rights that have long allowed them to sell funds, debt, advice or insurance to clients across the EU unimpeded, as if they were domestic.

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