EU To Oversee UK Markets Compliance During Transition

Law360, London (January 31, 2020, 2:53 PM GMT) -- Europe’s markets authority said on Friday that it will remain in charge of ensuring that Britain follows the bloc’s financial rules, which will continue to apply for 11 months after the U.K. has left the European Union.

British financial services companies must comply with Europe’s laws during the transition period — which is due to last until the end of December to make sure that businesses on both sides of the Channel can continue to trade — the European Securities and Markets Authority said.

The U.K. was due to leave the European Union at 11 p.m. on Friday after both sides...

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