EU regulators warn on no-deal Brexit impact
Firms must make contingency plans, regulators say, as Brexit deadlock continues
European Union regulators warn the possibility of a no-deal Brexit is one of the main risks facing financial firms across the bloc, in their latest report on vulnerabilities in the jurisdiction.
“It is crucial that EU financial institutions, market participants and their counterparties enact timely contingency plans to prepare for the UK’s withdrawal from the EU, including possible market volatility a no-deal Brexit may trigger,” the regulators say in a joint statement accompanying the report.
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