UK watchdog warns of market disruption under hard Brexit

FILE PHOTO: Signage is seen outside the entrance of the London Stock Exchange in London
FILE PHOTO: Signage is seen outside the entrance of the London Stock Exchange in London, Britain. Aug 23, 2018. REUTERS/Peter Nicholls/File Photo

February 27, 2019

LONDON (Reuters) – There is no guarantee that preparations made so far will avert disruption in markets if there is a no-deal Brexit, Britain’s Financial Conduct Authority said on Wednesday.

FCA Chief Executive Andrew Bailey told a House of Lords committee that he could give no assurance there would not be market disruption if Britain crashes out of the bloc next month with no transition deal.

(This story corrects “EU watchdog” to UK watchdog in headline, removes extraneous word in lead)

(Reporting by Huw Jones; Editing by Catherine Evans)

Source link