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UK markets watchdog says Brexit deal preferable to crashing out of the EU

UK markets watchdog says Brexit deal preferable to crashing out of the EU
FILE PHOTO: The Shard building and the Canary Wharf financial district are seen from the Broadway development in central London, Britain, August 23, 2017. REUTERS/Hannah McKay/File Photo -
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HANNAH MCKAY(Reuters)
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LONDON (Reuters) – Britain’s draft divorce settlement and declaration on future trading relations would leave the country without a say over European Union financial rules, but are preferable to a no-deal Brexit, the Financial Conduct Authority said on Thursday.

“An exit without agreement would carry much higher risk and carry significant uncertainty for us and for firms. Against that background, and viewed through the lens of our statutory objectives, the draft Withdrawal Agreement and the outline political declaration are preferable steps,” the FCA said in a report.

(Reporting by Huw Jones; Editing by Robin Pomeroy)

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