Jay Clayton says a no-deal Brexit would be a “significant event” for some companies JONATHAN ERNST/REUTERSBritain and the European Union must provide firm commitments that financial markets will not fall apart in the event of a hard Brexit, the chairman of the US Securities and Exchange Commission has said. Jay Clayton said that he intended to increase the number of commission staff working on Brexit matters because his concerns about a no-deal Brexit had risen since the start of the year. The SEC is one of the world’s most important financial watchdogs. Mr Clayton’s comments come soon after the US Federal Reserve and the Commodity Futures Trading Commission warned about the negative effects that a hard Brexit could have on US markets. At the end of November, the Federal Reserve cited a hard Brexit as a risk to the US…

Source: The Times December 18, 2018 17:03 UTC