France calls for tougher rules for UK firms post Brexit

Posted On: Mar. 16, 2018 5:53 AM CST

Robert Ophele, chairman of the French stock market regulator, said the European Union needs to toughen its rules for granting financial market access to U.K.-based firms before the United Kingdom quits the bloc, Reuters reported. Currently, foreign firms can serve EU customers if their home rules are "equivalent" to the bloc's. France is hoping tougher rules will prompt U.K.-based financial firms, including insurers, to set up operations in the country.