Money Managers Win New Round in Brexit Fight Over EU Control
- EU parliament committee endorses bill on revamp of regulators
- Final legislation will be subject of talks with member states
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Money managers scored another point in their drive to prevent European Union regulators from gaining more control over their operations after Brexit.
Lawmakers in the European Parliament voted to water down a bill that would have given the European Securities and Markets Authority additional oversight of the industry’s global operations. The draft law endorsed by the Economic and Monetary Affairs Committee instead gives regulators a more limited role to make recommendations on the oversight of firms.