Defying the guidelines of the European Securities and Markets Authority (ESMA), the Financial Conduct Authority (FCA) in the UK will now allow leverage on government bonds offered to retail traders to reach 30:1.

With government bonds, under the ESMA’s guidelines, brokers are allowed to offer leverage no greater than 5:1. In the wake of Brexit, however, FCA seem to be trying to coin its own rules.

ESMA reacted with a statement that “the proposed leverage limit would result in divergence from the leverage limits applied by product providers subject to other national measures.”