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ECB warns UK-based banks on Brexit preparations
By EUobserver
British-based banks have moved "significantly fewer activities, critical functions and staff" to the EU than the European Central Bank (ECB) had advised due to Brexit, it said in a statement Wednesday. It said banks could not continue to service EU clients outside the UK in the future and urged them to create "local risk management and governance structures" in the EU. The slow move came due to Brexit date postponements.