Lautenschläger warns of ‘fragmented’ regulation in eurozone
Regulators should have powers over investment companies, ECB official says
There are risks stemming from the possibility that UK-based banks relocating to the eurozone after Brexit will face “fragmented” regulation, Sabine Lautenschläger said on May 4.
The vice-chair of the European Central Bank’s supervisory arm was addressing a conference for banks considering a move from the UK to the eurozone in the aftermath of Brexit.
Some UK-based banks might choose not to seek a licence in the eurozone, but instead perform substantial amounts of business in the European Union
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