EU watchdog calls on Britain to enforce bloc's market rules
Global Economy
06 February, 2020, 05:55 pm
Last modified: 06 February, 2020, 06:17 pm
Britain has undertaken to apply all EU financial rules during the transition period that began after Brexit last week and lasts until the end of December
FILE PHOTO: A Union Jack flag and a European Union flag are seen ahead of a bilateral meeting between Britain's Prime Minister and European Council President during the Eastern Partnership summit at the European Council Headquarters in Brussels, Belgium, November 24, 2017. REUTERS/Christian Hartmann
The European Union's markets watchdog said on Thursday it has asked its British counterpart to ensure that ICE Futures Europe and the London Metal Exchange fully comply with the bloc's market transparency rules for commodity derivatives.
The European Securities and Markets Authority (ESMA) said it "encourages" Britain's Financial Conduct Authority to "employ timely" measures to ensure compliance with transparency obligations at ICE Futures Europe and the LME.
Britain has undertaken to apply all EU financial rules during the transition period that began after Brexit last week and lasts until the end of December.
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