EU watchdog says some banks trying to circumvent rules after Brexit
[LONDON] Some banks outside the European Union are trying to circumvent rules on offering investment services to customers in the bloc, the European Securities and Markets Authority said on Wednesday.
"With the end of the UK transition period on 31 December 2020, some questionable practices by firms around reverse solicitation, where the product or service is marketed at the client's own exclusive initiative, have emerged," the EU markets watchdog said in a statement.
REUTERS
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
JPMorgan, Nomura limit Segantii exposure on Hong Kong case
UOB awards Wong Kan Seng over S$400,000 in shares
Singapore eyes giving law enforcement agencies more power to probe money laundering offences
Seventh money laundering accused to plead guilty on May 23
DBS hires chief of Ping An’s tech group to be its new chief information officer
Indian banks to step up IT spends as regulatory scrutiny rises