France offers to register banks fleeing London in English
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Britain, European and French flags are seen before a news conference at the Elysee Palace in Paris, France, July 21, 2016. REUTERS/Philippe Wojazer
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
PARIS (Reuters) - French financial regulators offered on Wednesday to speed up the process of registering financial firms leaving London for France by handling their files in English.
The French government and regulators are eager to attract banks and other financial firms from London after Britain's EU exit vote, which could deprive them of access to continental markets.
France's ACPR financial regulator and AMF securities regulator said they would accept existing legal documents in English from firms already registered in other EU countries.
Not only would firms be spared the trouble of drafting new documents in French, but an English-speaking official would be put in charge of their file, the ACPR and AMF said in a joint statement.
The ACPR has also set up a special Brexit email address to handle inquiries. (firstname.lastname@example.org)
In July, the French government pledged to make its tax regime for expatriates the most favorable in Europe in a move also aimed at attracting finance jobs to Paris.
(Reporting by Leigh Thomas; editing by Richard Lough and Dominic Evans)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Colombia postpones peace talks with ELN guerrillas
- Southern apathy could boost Italy PM Renzi in referendum
- U.S. failing to curb money laundering by shell companies: task force report
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!