Brexit

HSBC brands MP’s post-Brexit jobs strategy ‘irrelevant’

Making use of EU sales loophole would leave banks exposed to 'high level' of regulatory risk

HSBC brands MP’s post-Brexit jobs strategy ‘irrelevant’
Photo: iStockPhoto

A suggestion that City firms could keep financial services jobs in the UK after Brexit by exploiting a loophole in EU law has been dismissed as irrelevant and impractical by HSBC.

The idea was raised by MP Jacob Rees-Mogg, a keen Brexit-backer, during a Parliamentary hearing on January 10.

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