top US regulator has threatened to prevent European banks from accessing US futures markets over EU plans for the oversight of foreign clearing houses after Brexit.

Speaking at the Futures and Options Expo in Chicago, Christopher Giancarlo, head of the Commodity Futures Trading Commission, called the EU plans to amend European Market Infrastructure Regulation “unprecedented and wholly unacceptable” and warned they could create “costly burdensome regulatory requirements” in the US.

Mr Giancarlo said that if the EU did not change the existing plans he would have “no choice” but to select from a wide range of actions that includes barring EU banks from using US financial infrastructure such as the Chicago Mercantile Exchange.

https://www.telegraph.co.uk/business/2018/10/17/us-threatens-bar-european-banks-exchanges-brexit-derivatives/

Facebook under fire as US officials back removal of Zuckerberg as chairman. Three state treasurers and a top official from New York have joined a shareholders’ motion to install an independent chairman at Facebook, claiming the move would improve governance and accountability.

They have endorsed an ongoing campaign to oust Mr Zuckerberg from his dual role as chair and chief executive just weeks after his company was engulfed in the biggest data breach to ever hit a social media company.