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Derivatives industry faces disruptive 'cliff-edge' risks from no-deal Brexit, say industry groups

( July 31, 2020, 11:47 GMT | Official Statement) -- MLex Summary: The derivatives industry is facing a disruptive "cliff-edge" at the end of the Brexit transition period, with more action needed by regulators to mitigate potential risks, five leading industry groups said in a paper published today. The five associations called for the European Commission and other EU authorities to “make full use” of their powers to mitigate the adverse impact of the end of the transition period which expires at end-2020. In the absence of this, financial institutions may be forced to take “disruptive, risky, costly and potentially irreversible” steps, the paper says.The statement follows. The paper is attached....

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