Jan 22 JPMorgan Chase & Co said in a
submission to the UK Treasury that the country will get what it
wants on cross-border rules if it negotiates as part of the
European Union, the Financial Times reported on Wednesday.
The UK Treasury declined to comment on any submissions.
The U.S. bank said the UK could lose its clout in
trans-Atlantic trade and regulatory disputes if it leaves the
EU, according to the Financial Times.
"The UK's objectives for sensible outcomes to
cross-jurisdictional disputes are more likely to be achieved as
part of the EU, rather than via bilateral discussions," the
newspaper reported Daniel Pinto, co-chief executive of
JPMorgan's corporate & investment bank, as writing in the
U.S. bank Citigroup Inc also recently urged the UK not
to opt out of the EU, saying it could hurt the economy and
reduce investment from international companies.
European aerospace group Airbus, one of the
country's largest employers, as well as consumer goods company
Unilever , have voiced concerns over the
possibility of the UK leaving the EU.
Prime Minister David Cameron promised voters he would
renegotiate the terms of EU membership before holding a
referendum on by 2017 if his ruling Conservatives win elections
next year. Finance minister George Osborne recently warned the
EU that it must reform if it wants the UK to remain.