EU Moves To Protect Irish Securities Trading In London
Law360, London (March 1, 2019, 5:07 PM GMT) -- Europe's top securities regulator acted Friday to protect Ireland's stock and bond traders from disruption in the event that Britain crashes out of the European Union on March 29.
The European Securities and Markets Authority said it would recognize Euroclear U.K. and Ireland Ltd., a London-based central securities depository that helps Irish brokers access clearing in the British capital.
"ESMA has adopted this recognition decision in order to allow the U.K. [central securities depository] to serve Irish securities and to avoid any negative impact on the Irish securities market," the regulator said in a statement. "The recognition decision would take effect...
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