BREAKING NEWS

BREAKING NEWS

EU lawmakers move to tighten rules on London-based investment banks after Brexit

Now Reading:

EU lawmakers move to tighten rules on London-based investment banks after Brexit

EU lawmakers move to tighten rules on London-based investment banks after Brexit
@ Copyright :
TOBY MELVILLE(Reuters)
Text size Aa Aa

BRUSSELS (Reuters) - A committee of European Union lawmakers on Monday backed new rules to prevent large London-based investment banks from carrying out key activities in the EU after Brexit, unless they set up fully-fledged branches in the bloc.

The new rules, if approved by EU states and by the whole European Parliament in a second vote, would force foreign investment banks to set up branches in the euro zone if they want to perform services such as proprietary trading and underwriting of bonds and other securities in the bloc.

(Reporting by Francesco Guarascio, Editing by Gabriela Baczynska)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.