EU watchdog acts on share trading in case of no-deal Brexit

FILE PHOTO:  Reactions following vote on Brexit 'plan B'
FILE PHOTO: Dealers work at their desks whilst screens show market data following a vote on Prime Minister Theresa May’s Brexit ‘plan B’ at CMC Markets in London, Britain, January 30, 2019. REUTERS/Dylan Martinez

March 19, 2019

LONDON (Reuters) – The European Union’s markets watchdog published guidance on Tuesday that would allow investors to continue trading shares in London for a temporary period in the event of a no-deal Brexit.

The European Securities and Markets Authority (ESMA) said its guidance should be understood as being “limited to the no-deal Brexit scenario and as being conceived for a temporary period to mitigate cliff-edge effects because of a no-deal Brexit”.

(Reporting by Huw Jones; Editing by Gareth Jones)

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