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EU to Extend U.K.’s Post-Brexit Clearing Waiver Until June 2025

Jan. 18, 2022, 12:19 PM

The European Union’s commissioner for financial services said she will propose extending a temporary waiver that allows its banks and money managers to clear trades in the U.K. through to June 2025.

“We envisage proposing an extension of the equivalence decision to three years until the end of June 2025,” Mairead McGuinness said at an ECOFIN meeting in Brussels Tuesday. The existing temporary waiver expires in June this year.

Mairead McGuinness
Photographer: Antti Aimo-Koivisto/AFP/Getty Images

The EU has been pushing for more financial activity to move into the bloc but both U.K. and European banks, investment managers and hedge funds had called on the Commission ...

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