Biz As Usual For Investment Firms In No-Deal Brexit: FCA
Law360, London (March 13, 2019, 5:41 PM GMT) -- The Financial Conduct Authority said Wednesday that it will hold investment firms to rules similar to the ones they currently follow under a no-deal Brexit, as the government has brought the European Union’s new securities directive into U.K. law.
The financial regulator said that if Britain leaves the bloc without a transitional period, investment firms will have to continue to follow the same rules on making disclosures, following position limits and derivatives trading set out in Europe’s revised Markets in Financial Instruments Directive, or MiFID II, which have been penned into U.K. legislation by HM Treasury.
“The Treasury’s approach to the onshoring...
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