Bid To Move Clearing Risks Financial Stability, City Warns

By Mark Taylor (May 16, 2017, 6:56 PM BST) -- London must remain the top global hub for clearing euro-denominated derivatives after Brexit, as to uproot the trillion-dollar-a-day industry would throw global markets into chaos, the City's new financial sector policy chief said Tuesday.

In her first keynote speech since taking up office as policy chairwoman of the City of London Corporation, Catherine McGuinness said plotting by the European Union to remove the right to clear in Britain after it leaves the bloc risked global financial stability.

McGuinness, a former derivatives lawyer, told the Futures Industry Association conference in London such a move would also upset the U.S., particularly the Commodity...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!