Brexit-inspired clearinghouse rules split EU Commission and securities watchdog

9 December 2019 9:48pm
EU rules for overseas clearinghouses, being drafted in response to Brexit, have caused a public split between the European Commission and the European Securities and Markets Authority.

The EU executive takes issue with the financial watchdog’s advice on how non-EU clearinghouses should be able to access their customers in the bloc, which a commission representative described as “raising fundamental issues,” according to a new ESMA document.