Brexit Is Such Good Business for the Dutch, Their Watchdog Needs to Get Bigger
- AFM gets 10% budget boost to handle trading shift from London
- Watchdog’s chief says budget could grow more in no-deal Brexit
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Amsterdam is winning so much business as Europe’s post-Brexit trading hub that the Netherlands is boosting the financial regulator’s budget by 10 percent to keep up with it all.
“It could be even more in case of a no-deal Brexit,” Merel van Vroonhoven, head of regulator AFM, said in a Bloomberg TV interview. AFM needs the extra budget to “heavily invest in IT” and hire many more people,” she added.