EU officials mulling post-Brexit financial reforms

 
Sebastian McCarthy
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the European Commission has composed a 12-page document setting out the body’s plans to speed up banking measures which could affect the City (Source: Getty)

European officials have reportedly drawn up draft plans for a major raft of financial regulations post-Brexit.


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According to Reuters, the European Commission has composed a 12-page document setting out the body’s plans to speed up banking measures in what looks set to be most significant regulatory push since the financial crisis a decade ago.

Among the proposals in the document are potential "concentration charges" on banks' holdings of risky government debt, as well as potential rules to bolster cyber crime defences.

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The document also reportedly suggests the idea of having a centralised anti-money laundering supervisor in the wake of one of the world's largest ever laundering scandals.

Danske Bank was plunged into crisis last year as questions were raised over €200bn (£173m) in suspicious payments which flowed through its Estonian affiliate between 2007 and 2015.

Last month the lender posted a 39 per cent fall in net profit year-on-year in the first quarter of 2019, to 3bn Danish krone, as the bank faced higher expenses and impairments.

The European Commission declined to comment.