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Exclusive - EU Parliament expected to soften euro clearing relocation powers

Reuters  |  BRUSSELS 

By Francesco GuarascioBRUSSELS (Reuters) - The European Parliament is aiming to soften plans to give European Union regulators the power to force London's main clearing house to relocate if it wants to continue doing business in the single market after Brexit, an EU lawmaker said.Euro clearing is one of the main battlegrounds between London and Brussels in divorce talks that will shape how Europe's financial market is divided up when Britain leaves the European Union.The European Commission proposed in June to give broad powers to itself, the European Central Bank and the European Securities ...

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First Published: Sat, January 13 2018. 02:17 IST
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