UK Copies EU Approach To Regulating Cross-Border CCPs

By Najiyya Budaly (November 9, 2021, 2:24 PM GMT) -- The Bank of England has said that it will adopt the same approach as the European Union to supervising clearinghouses based abroad, putting in place a tiered system with stricter rules on entities that present more risk to Britain's market.

Christina Segal-Knowles, the BoE's executive director for financial market infrastructure, said in a speech on Monday that U.K. regulators are looking to ensure that central counterparties, or CCPs, that clear trades for British firms but are based in other jurisdictions do not bring risks to the domestic market.

The EU tightened its supervision of clearinghouses based outside the bloc ahead of...

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