EU watchdog says some banks trying to circumvent rules after Brexit

[LONDON] Some banks outside the European Union are trying to circumvent rules on offering investment services to customers in the bloc, the European Securities and Markets Authority said on Wednesday.

"With the end of the UK transition period on 31 December 2020, some questionable practices by firms around reverse solicitation, where the product or service is marketed at the client's own exclusive initiative, have emerged," the EU markets watchdog said in a statement.

REUTERS