UK financial sector proposes untested system to keep EU access

By Huw JonesLONDON (Reuters) - Britain's financial sector is drawing up proposals on how it could still serve EU clients after Brexit, even as firms begin establishing new operations on the continent to keep access to the European market.Regulatory and banking experts working for the City of London and lobby group TheCityUK are basing their ideas on a 'mutual recognition' system.Under this, the European Union and Britain would broadly accept firms in each other's financial markets because their