LONDON, Sept 16 (Reuters) - Overlapping British and European Union share trading rules would damaged markets “to no good end” and can be avoided, Britain’s top markets watchdog said on Monday.
The EU has said that if there is a no-deal Brexit, investment firms in the bloc must trade euro-denominated shares in the EU - many are currently heavily traded in London.
Financial Conduct Authority CEO Andrew Bailey said some of this overlap must be avoided. “It is therefore easy to conclude that for those shares, market liquidity would be damaged to no good end,” Bailey said in a speech at Bloomberg. (Reporting by Huw Jones; Editing by Toby Chopra)