Legal case could allow Brits to keep European Union citizenship after Brexit

EU Throws Down Gauntlet to May

European Union President Donald Tusk

The survey by the Financial Conduct Authority (FCA) is for businesses that offer their financial services under European Union "passporting" rules to customers in Britain from a base in another member state.

At the time, May said anyone arriving after Brexit could live, work and study in the United Kingdom during the transition period but that they would need to register with the Home Office and that immigration rules for them would have to be agreed later.

The UK and the European Union are set to negotiate a deal later this month that will largely keep things as they are until 2020, but a number of companies are already concerned about the long-term impact on the industry that employs over 800,000 people and generates turnover of £77.5 billion. "We will set out further details on these proposals and how the scheme will operate in due course".

But the draft European Union guidelines, which will be worked on by European Union diplomats to be approved by the bloc's 27 national leaders in late March, spell out clear limits to this approach.

"Brexit negotiations have reached a critical stage, yet essential issues over citizens' rights remain unresolved and solutions maintaining an invisible border on the island of Ireland are not forthcoming".

Carmakers have fired yet another warning to prime minister Theresa May as the reality of Brexit begins to sink in.

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"If in London someone assumes that the negotiations will deal with other issues first, my response would be Ireland first", Tusk said.

Previous year the prospect of a harder Brexit saw the Pound lose lots of value, the market is now pricing in the higher chance of a softer Brexit which has helped Sterling to rise and removes the possibility, I feel, of the Pound dramatically plunging.

Tomorrow, the European Parliament will vote on a motion put forward by the EU's chief Brexit co-ordinator Guy Verhofstadt calling for an "association agreement" to deal with the future UK-EU relationship. In the free trade agreement we can offer trade in goods, with the aim of covering all sectors, subject to zero tariffs and no quantitative restrictions.

This coincided with a major speech by British chancellor Philip Hammond, who called for the inclusion of financial services as part of a future trade deal with Brussels.

"And I do believe that rationality, common sense will win the day if we conduct ourselves with decorum and patience and I think therefore it's in all our interests to keep the temperature down".

"The reality on the ground today is that firms can't make their next move until they know what the state of play will be from March 2019", said Cherry.

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