EU's Dombrovskis: We need to ensure a level playing field across the EU - Reuters

As Britain prepares to leave the EU, some British financial firms - and foreign banks using London as a European base - are already working on plans to establish new operations on the continent to keep access to the European market, reported Reuters.

The European Commission vice president Valdis Dombrovskis told Reuters in a television interview in Berlin on Wednesday that European Union officials have heard complaints from some members of the bloc about others lowering the requirements for "passporting" rights to sell financial services in the EU single market.

Key quotes (via Reuters)

• There could be no race to the bottom in setting the requirements to lure such firms
• Already we have heard certain accusations among countries in this regard
• Clearly, we need to ensure a level playing field across the EU