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A hard Brexit poses risks to the integrity of financial markets and could make it harder to protect consumers from wrongdoing by

admin2018-03-26  17
问题    A hard Brexit poses risks to the integrity of financial markets and could make it harder to protect consumers from wrongdoing by banks, the head of the city regulator has warned MPs.
   Andrew Bailey, chief executive of the Financial Conduct Authority, said a cliff-edge Brexit—one in which the regulatory framework changes the instant the UK leaves the EU—also presented competition risks, alongside threats to legal and market stability.
   In his latest letter to the Treasury Select Committee, Bailey said a sudden exit from the EU could make it difficult for regulators to obtain information about the firms they regulate. "Any lack of certainty with regard to the regulatory framework may affect the ability of the FCA, and perhaps other regulators, to take enforcement action as a means of both addressing and deterring misconduct," said Bailey.
   He also highlighted the risks associated with the sudden loss of the "passport" that firms based in the EU use to operate freely within the 28 member states. Bailey has previously told the committee that 5,476 UK-registered firms hold at least one passport to do business in another EU or EEA member state while just over 8,000 companies authorized in other EU states use these rules to do business in the UK.
   There was a risk, he said, that firms could end up without the correct permissions to sell products or find themselves vulnerable to legal action if they were not able to meet pledges to provide services for customers. The FCA may not have enough time to process applications—which take about 23 weeks—if the loss of passporting is only agreed late in the negotiations.
   Former shadow chancellor Chris Leslie, a leading supporter of the Open Britain campaign, said: " The last thing post-Brexit Britain needs is to tie the hands of the Financial Conduct Authority behind their back. A hard Brexit doesn’t just risk pushing our economy over a cliff edge, it risks throwing robust regulation into the void as well. "
   "If we learned anything from the 2008 global economic crash, it is that a clear system of regulation for financial services is essential. It is deeply worrying that the people responsible for that in this country are saying they will not be able to do their job properly if Britain crashes out of the EU without a transitional deal in place. "
   " When the financial watchdogs are themselves saying they will not be able to properly protect consumers following a hard Brexit, the government needs to sit up and take notice. " "If the watchdog cannot watch financial transactions properly, we are leaving both peoples’ finances and markets vulnerable to abuse. "
What may be the problem posed by a sudden loss of firms’ "passport" ?
选项 A、Restriction on travel around EU member states.
B、Influence on the firms’ ability to provide service.
C、Increase of legal disputes in international trade.
D、Extended time to deal with passport application.
答案C
解析 推理判断题。本题考查所谓的“许可证”一旦失效可能带来的问题。定位句提到，存在的风险就是企业在没有合法经营许可证的情况下，被迫停止出售商品，或者一旦不能按约定向消费者提供服务，就极易遭到法律诉讼，可知“许可证”骤然失效会增加国际贸易中的法律纠纷，故C)为答案。A)“造成对欧盟成员国间旅行的限制”是对“passport”字面意思的曲解，故排除；B)“影响公司提供服务的能力”，定位句的意思是一旦无法履约就更容易陷入法律纠纷，并非会削弱企业的能力，故排除；D)“处理许可证的时间延长”，这是先前许可协议骤然终结的后果，不是企业失去许可证可能遇到的问题，故排除。
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