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Can anyone elaborate what passporting means in this case? I don't think that was explained in that article. I'm assuming that it has something to do with trans
by hugotroll 10y ago
Can anyone elaborate what passporting means in this case? I don't think that was explained in that article. I'm assuming that it has something to do with transferring funds from one country to another?
- cwcw 10y agoIn that context it means when a bank is regulated in one of the countries in the single market (UK in EU), it can operate without regulatory concern in all the countries there. It is understandable that certain operations will inevitably be moved to a city in the heart of EU instead of staying in London.