Hedge funds eye Brexit escape from Mifid reporting

UK tipped to diverge from Europe’s proposed reforms to fund manager rules

London and Brussels are barely 200 miles apart but the gap seems to be growing by the month.

A recent proposal on trade reporting from the European Union’s markets watchdog threatens to drive the UK further from its neighbour once the two jurisdictions formally separate at the end of the year.

The plan would force hedge funds to provide detailed reports of their trading activity to regulators. The aim is to unify trade reporting among buy-side firms and give financial authorities a clearer