ECB to Force UK-Based Investment Banks to Relocate Staff and Trading Activity
KONTAN.CO.ID - FRANKFURT. Too many global investment banks continue to serve euro zone clients out of London and the European Central Bank plans to force them to relocate senior staff and trading activity to the bloc. ECB supervisory chief Andrea Enria said on Thursday.
The ECB has long battled the industry's biggest players, who are reluctant to relocate activities after Brexit, despite explicit demands by the ECB, which supervises the bloc's biggest financial institutions.
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