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LSE plans for Brexit bust up

LSE plans for Brexit bust up

London Stock Exchange (LSE) wants investors to know it’s leaving nothing to chance. The UK bourse has confirmed that it has contingency plans in the event of a ‘hard’ or ‘no-deal’ Brexit. These plans include “incorporation of new entities in the EU27 and applications for authorisation within the EU27 for certain group businesses”. LCH, the group’s clearing house business, could face increased regulatory supervision from Europe or become subject to other restrictions. Company bosses said they simply “could not rely” on a draft 'Withdrawl Agreement' published in March 2018 which laid out proposed 21-month transition arrangements. The group also criticised a recent government White Paper, which it said failed to look at passporting or mutual recognition when discussing the future for UK financial services.

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