ECB Assumes Oversight Of 4 Global Banks After Brexit Moves
Law360, London (December 4, 2019, 12:16 PM GMT) -- The European Central Bank said on Wednesday that it will begin supervising the subsidiaries of four global investment banks from 2020 after they moved significant operations from London to the bloc in preparation for the U.K. leaving the European Union.
The central bank said it will start directly supervising branches of Goldman Sachs, UBS, JPMorgan and Morgan Stanley from January after they shifted some operations. (AP) The ECB will start directly supervising branches of UBS Group AG, JPMorgan Chase & Co., Morgan Stanley and Goldman Sachs Group, Inc. from January 2020 because the banks have moved a large part of their...
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