07.12.201621:59:00UTC+00Financial Regulator Says Major U.K. Banks in Advanced Talks to Relocate in Paris: BBC

France's leading financial regulator Benoit de Juvigny told BBC said major international banks are in the final stages of planning to relocate some operations and headquarters from London to Paris.

The regulator said large banks have laid out the groundwork needed to establish a subsidiary in the French capital. He added that other companies have also posted informal inquiries regarding a move to Paris post-Brexit. He said similar talks are likely going on in other financial centers in the eurozone.

Authorities in Germany, Netherlands and Luxembourg have stated that they would accept banks who are considering to shift their operations from London in preparation for U.K.'s departure from the European Union.

U.K.-based financial services firms had the access to the entirety of Europe via Britain's passporting rights under its membership in the EU bloc.