Brexit Backer Says Bank Freedom Starts by Embracing EU Rules
- Rees-Mogg says the time for changes will come after secession
- U.K. has no choice but to implement MiFID II, lawmaker says
Jacob Rees-Mogg
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A leading Brexit backer says the U.K.’s path to deliverance from the constraints of Brussels begins with imposing sweeping new European Union rules on the country’s financial markets.
The U.K. should ensure that the EU market-rule overhaul known as MiFID II enters into force as intended in January 2018 to avoid complicating the government’s talks on secession from the bloc, said Jacob Rees-Mogg, a Conservative lawmaker in Parliament’s Treasury Committee and an outspoken Brexit supporter.