November 8, 2018 / 3:43 PM / 4 days ago

EU watchdog proposes derivatives rule changes for any no-deal Brexit

LONDON, Nov 8 (Reuters) - The European Union’s markets watchdog has proposed temporary exemptions from EU rules to ensure that uncleared derivatives contracts are not disrupted if there is a no-deal Brexit.

“The proposed regulatory change supports counterparties’ Brexit preparations and maintains a level playing field between EU counterparties, while addressing potential risks to orderly markets and financial stability,” said Steven Maijoor, chair of the European Securities and Markets Authority, in a statement.

Reporting by Huw Jones; Editing by Kevin Liffey

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