UK watchdog sees no big divergence from EU securities market rules

FILE PHOTO: St. Paul’s Cathedral and buildings of the City of London financial district are seen as buses cross Waterloo bridge at sunset, amid the outbreak of the coronavirus disease (COVID-19), on the first day of a newly imposed lockdown, in London, Britain November 5, 2020. REUTERS/Toby Melville

LONDON (Reuters) – Diverging from the European Union’s securities rules would be the “exception” rather than the rule, a senior Financial Conduct Authority official told lawmakers on Tuesday.

“Areas where we would diverge are the exception rather than the rule,” Edwin Schooling Latter, FCA executive director for wholesale markets, told a parliamentary committee.

Britain left the EU in January and full access to the bloc’s single market for UK financial firms ends on Dec. 31.

Reporting by Huw Jones; Editing by Catherine Evans

source: reuters.com