European asset managers urge ESMA to find solution to dual-listing conundrum amid hard-Brexit fears

ESMA 'looking into it'

Jayna Rana
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European managers may not be able to invest in London-listed shares of dual-listed companies in the event of a hard Brexit
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European managers may not be able to invest in London-listed shares of dual-listed companies in the event of a hard Brexit

European fund managers have called on the European Securities and Markets Authority (ESMA) to find a means to allow them to continue trading in the London-listed shares of companies with dual listings, in the case of a hard Brexit.

If the UK leaves the European Union without a deal next month, fund managers based on the continent may no longer be able to buy and sell the London-listed shares of such companies, including Royal Dutch Shell, Unilever and Ryanair, according to The FT. Despite being accessible through other stock exchanges within the EU, London is a more attractive option as it typically boasts a larger and more liquid market. What if Brexit is cancelled? Echoes of Black Wednesday in 1992 Around 90 companies could be affected by the issue, the majority of which are listed in both London and Dublin...

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