November 1, 2018 / 8:15 AM / 10 months ago

UK, EU financial services deal on some access nearly done - UK source

FILE PHOTO: Office blocks of Citi, Barclays, and HSBC banks are seen at dusk in the Canary Wharf financial district in London, Britain November 16, 2017. REUTERS/Toby Melville/File Photo

LONDON (Reuters) - A Brexit deal is nearly done that would give UK-based financial services firms some form of access to European markets, a British official told Reuters.

The Times reported that a tentative deal had been struck.

“We are making progress,” the official, who spoke on condition of anonymity, said, adding that the financial services deal would be based on the EU’s existing so called equivalence system.

A deal may be expected if an overall Brexit deal is struck this month, the official said.

Prime Minister Theresa May’s office and Britain’s department for exiting the EU did not immediately comment on the report.

Reporting by Andrew MacAskill, writing by Guy Faulconbridge

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