UK fights rearguard action on EU financial laws

London

THE UK may be headed for the door, but its lawmakers and civil servants in Brussels still have their work cut out as the European Union (EU) overhauls financial-services rules that will affect firms in London even after Brexit.

Negotiations will resume soon on wide-ranging banking legislation that translates global standards into EU law, as well as a swathe of new rules on everything from pensions to covered bonds and derivatives clearing. All this matters to the UK because it has to enact any laws passed before Brexit and will be expected to have equivalent rules in place after it leaves as part of any deal giving London-based firms continued access to the single market.