LIVE BREAKING NEWS: The United Kingdom is on the verge of breaking free from the European Union, thanks to the resignation of a regulator who has stymied reforms.


LIVE BREAKING NEWS: The United Kingdom is on the verge of breaking free from the European Union, as a key regulator who has stymied reform steps down.

THE UK will finally leave the EU after a regulator accused of obstructing key reforms resigns, a major victory for pro-Brexit campaigners.

Andrea Coscelli, the Competition and Markets Authority’s (CMA) director general since 2016, is set to step down in July.

His departure is being viewed as an opportunity to appoint a new CEO to one of the UK’s most important economic regulators.

Ministers saw Mr Coscelli as a roadblock to post-Brexit economic reforms, according to government insiders.

According to The Telegraph, they also saw him as a roadblock to breaking with EU competition policy.

He oversaw a number of high-profile failed and successful mergers of major British corporations during his time at the CMA.

“By July, I will have served as an executive director at the CMA for nearly nine years, including six as chief executive,” Mr Coscelli said.

“I believe now is the appropriate time to confirm that I will not seek re-election.

“Over the next six months, there will be a tremendous amount of work to be done, and my focus will be on achieving the organization’s goals and facilitating a smooth transition.”

Mr. Coscelli’s leadership was praised by Business Secretary Kwasi Kwarteng, who added, “We will continue to work closely with the CMA to promote competition for the benefit of consumers and enable businesses to take advantage of the many opportunities on the horizon.”

Despite efforts by London’s financial center to make its post-Brexit markets more appealing, Amsterdam maintained its share-trading dominance.

Amsterdam surpassed London as Europe’s most important stock exchange in January of last year.

Following the United Kingdom’s exit from the European Union, euro-denominated stock trading by EU investors was forced to halt.

Much of the trading has shifted to Amsterdam, where Euronext, the London Stock Exchange Group’s (LSEG) Turquoise, and Cboe Global Market’s post-Brexit operations are all based.

According to Cboe Global Markets, average daily trading in Amsterdam was 8.97 billion euros (£7.5 billion) in December, edging out London’s 8.32 billion euros (£6.9 billion).

The European Union’s mandated speed limiters, which are set to be installed on UK cars in July, could result in a slew of legal and road safety issues.

The new driving laws are expected to be implemented on new cars manufactured after July 6, 2022, with an effective date of July 6, 2022.

“Brinkwire News Summary.”


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