What are financial services?
Financial services are the economic services provided by the finance sector to individuals, households and firms in order to facilitate various kinds of economic transactions and other related financial activities like loans, payments, insurance, investment opportunities, management of money and more.
No post-Brexit equivalence deal on financial services has been struck between the UK and EU. These decisions would have granted UK-based financial services firms greater access to the Single Market than now, although still markedly less than when the UK was a member state.
Read more about financial services here.