European Union

Tit-for-tat rhetoric doing little to ease tensions within bloc

Launches 'indicative classification'

Equivalent to existing UK UCITS schemes

To ensure 'smooth transition'

Clash over regulation continues

Two scenarios outlined

Already planning broker dealer in Frankfurt

No-deal could mean market participants losing their authorisations

Slams 'cycle of deregulation, crisis and regulation'

Growing pressure from a subdued economy and Brexit