Germany’s BaFin Warns of Potential Emergency Measures if Hard Brexit Occurs

[kreslik.news]

The president of Germany’s Federal Financial Supervisory Authority, better known as BaFin, Felix Hufeld, said that financial regulators could implement emergency measures in the case of a “no-deal” Brexit.

According to a report from Reuters, at a banking conference in Frankfurt today Hufeld said that if Britain leaves the European Union (EU) without an exit deal that clarifies the many outstanding legal questions, BaFin could bring in temporary measures.

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Speaking at the banking conference he said: “these would be just temporary fixes to avoid chaos.” Whilst he didn’t get any more specific than that, he did also ... (read more)