European Union governments and lawmakers agreed on Wednesday new rules that could force large foreign clearing houses with operations in the EU to relocate to the bloc if they want to continue servicing their EU clients.
"European Parliament negotiators struck a deal with EU ministers to set up an ESMA supervisory committee ... and impose stricter rules on third country ones, depending on systemic risk," the parliament said in a statement, referring to the European Securities and Markets Authority.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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