Euro MPs have voted through a tough new package of measures governing City firms’ access to Europe's markets after Brexit, confirming their stance that British firms will need to set up subsidiaries to do business inside the bloc.

However, conservative lawmakers also managed to head off some radical proposals from Green politicians that would have obliged asset managers, such as BlackRock and Vanguard, to disclose details of their private discussions with the bosses of the companies they invest in.

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