Esma Chair Raises Concerns over No-Deal Brexit
Steven Maijoor warned of the impact of no deal Brexit on Mifid II calculations and the need to ensure continued access to UK clearinghouses.
Regulators must have agreements in place with the UK to ensure continued data sharing and clearinghouse access, even if a wider Brexit deal is not reached, the head of Europe’s markets watchdog has said, describing such pacts as “essential” to ensure market stability.
Steven Maijoor, the chairman of the European Securities and Markets Authority (Esma), said that a no-deal scenario would result in there being “no legal basis anymore for the extensive and granular daily data exchange between the
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