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EU Markets Watchdog Wants More Staff For 3rd Country Rules
Law360, London (January 28, 2021, 12:50 PM GMT) -- Europe's markets regulator has said it might need to spend up to €8.7 million ($10.5 million) to hire up to 47 full-time staff to deal with a change in the bloc's rules about which countries outside the EU are allowed to participate in its financial markets.
The European Securities and Markets Authority said on Wednesday that the new Investment Firms Regulation, which introduces tougher standards for countries outside the bloc that hope to trade in European Union markets, will require it to expand its resources.