EC to Draft Extraordinary New Financial Laws Because of Brexit

The European Commission is drafting extraordinary laws to regulate financial markets in case that the negotiations on the UK exit from the European Union end without an agreement. This was reported by Actualno.com.

This is a result of the lack of serious progress in the Brexit negotiations. If they fail, it will be necessary for the European Commission to revise all-important directives affecting the financial sector, including security trading and investment fund activities. There should be a certainty for the EU companies and citizens who have an active business with the UK.

The formal negotiations between London and Brussels began on 19 June 2017 in Brussels and should continue until November 2018. Brexit must actually take place on 29 March 2019, and then a transitional period will occur at least until the end of 2020.

Petya Petrova

Petya Petrova is a journalist, believer, and traveler.

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