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BRITAIN-EU-BREXIT-US
US financial regulator warns on no-deal Brexit: report
LONDON, Dec 18, 2018 (BSS/AFP) – The head of the US Securities and
Exchange Commission wants no disruption to financial markets in the event of
a no-deal Brexit, the Financial Times reported Tuesday.
“Some period of adjustment would be good,” Jay Clayton told the business
daily in an interview, extracts of which were published online.
“The intricacies of our financial system are significant and it’s
difficult to identify all the ways in which a decree that something is no
longer valid may impact.”
British ministers met Tuesday to intensify plans for leaving the European
Union without a deal — a prospect that is becoming more likely as Prime
Minister Theresa May plays for time with just 101 days to go until Brexit.
Speaking of a possible no-deal, Clayton told the FT: “If you asked me that
nine months ago, I would have said, boy it would surprise me.
“If you’re asking me today… let me put it this way, I think it’s prudent
for me to spend time thinking about what that means.”
The newspaper added that Clayton planned to increase the number of SEC
workers focused only on Brexit.
BSS/AFP/FI/ 1845 hrs