Germany Seeks to Keep Post-Brexit Ties to U.K. Markets Cop
- BaFin looks at direct links to FCA in case wider deal fails
- France betting EU regulators will reach joint accord with U.K.
Photographer: Chris Ratcliffe/Bloomberg
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British and European markets watchdogs may wrap up a comprehensive deal that protects cross-border securities trading after Brexit. But the Germans aren’t betting on it.
Germany is laying plans to open its own direct links to the U.K.’s Financial Conduct Authority in case fellow European countries fail in their efforts to reach a joint deal. Regulator BaFin is looking at fall-back options “to ensure as friction-free a transition as possible,” the regulator’s vice president, Elisabeth Roegele, said in emailed comments to Bloomberg. That goes further than statements from France, which has signaled that it’s relying on a joint pact.