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Regulators ease no-deal Brexit fears in funds sector
Regulators in Britain and the European Union said they have dusted off their no-deal Brexit agreements to avoid disruption in cross-border asset management. Britain left the EU in January, but unfettered access to the European market has continued under a transition agreement that ends in December. Negotiations of a new UK-EU trade pact have stumbled, and Britain’s requests for direct financial market access are being separately by Brussels. The European Securities and Markets Authority (ESMA) and Britain’s Financial Conduct Authority (FCA) said on Friday that memoranda of understanding (MOUs) drawn up in ... (full story)