The eurozone 's rescue fund , the European Stability fund , will stop issuing non - denominated bonds under English law this month . The move prompted calls from EU regulators to shift financial contracts away from London amid concern that Brexit will bring uncertainty to their legality . While EU law has traditionally been the preferred option for European bonds and derivatives contracts , mainly due to its legal ##ity , regulators have warned that some financial contracts may not be fully valid in the event of a no - deal agreement .
The eurozone's rescue fund, the European Stability Mechanism, will stop issuing euro-denominated bonds under English law this month. The move follows calls from EU regulators to shift financial contracts away from London amid concern that Brexit will bring uncertainty to their legality. While English law has traditionally been the preferred option for European bonds and derivatives contracts, mainly due to its legal guarantees, regulators have warned that some financial contracts may not be fully valid in the event of a no-deal Brexit.