BREAKING NEWS

BREAKING NEWS

EU watchdog warns of market disruption under hard Brexit

EU watchdog warns of market disruption under hard Brexit
FILE PHOTO: The logo of the new Financial Conduct Authority (FCA) is seen at the agency's headquarters in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren/File Photo -
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Chris Helgren(Reuters)
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LONDON (Reuters) - There is no guarantee that preparations made so far will not avert disruption in markets if there is a no-deal Brexit, Britain's Financial Conduct Authority said on Wednesday.

FCA Chief Executive Andrew Bailey told a House of Lords committee that he could give no assurance there would not be market disruption if Britain crashes out of the bloc next month with no transition deal.

(Reporting by Huw Jones; Editing by Catherine Evans)

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