Any ideas …?
Wondering if the UK leaving the EU will mean setting itself new trading laws and therefore coming inline, as previously, with the rest of the worlds leverage restrictions.?
Given the UK regulator favoured making the ESMA restrictions permanent, I suppose they will want to simply carry them forward after the Brexit transition period ending 31/12. Whether we continue to move parallel with future ESMA regulations is anyone’s guess but mine would be that we will.
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Thanks @tommor - I guess we’ll have to wait and see, I’m surprised that there were no other comments here regarding this… odd, as that potentially seriously affects all UK traders.
For latest info read here - there are two earlier updates that are also linked:
Edit: the term ‘No Deal’ refers to a trade deal yet to be agreed, not the more common ‘no deal’ which is often refers to a ‘withdrawal agreement’.
Thanks @peterma … but not sure I understand what the ESMA article was saying…? that for now, the UK will align with ESMA laws…? But, assuming the ESMA is a ‘Euorpean’ body, then once the UK is out the Boris Johnson as now has no interest in any future EU laws and will therefore do what he likes. I can’t see how ESMA could enforce the UK to follow its laws when the UK is out?
Well maybe we can eventually get out of Mifid II which is seriously affecting my ability to trade the Bund.
I think in due course the UK could be free to once again make our own financial regs - one thing us brits are good at is innovating with financial products and i know many brokers have seen declining business because of higher margins.
Im sure Boris Johnson has bigger concerns than margin requirements for small retail traders, but I think eventually we could once again be the speculative free for all we once were.