Financial Services

Brexit: Some clarity on financial services

Following the EU Withdrawal Bill officially becoming law, HM Treasury (HMT) published its approach to financial services legislation in the lead up to and immediately following Brexit. In coordination with that publication, the Bank of England and Financial Conduct Authority (FCA) also published their own statements providing further detail on their roles under the proposed […]

Seminar: Brexit – Planning for the Unknown

Tuesday 9 May 2017 The UK Government finally delivered its Article 50 notice to the European Council on 29 March. The contents of that letter created much disagreement across the continent almost as soon as it was taken out of the envelope. The prospects for a harmonious two-year negotiation period are therefore rather slim. But […]

Brexit: Take it or leave it?

The contents of European treaties do not generally achieve public notoriety. But – after acrimonious parliamentary debates, Supreme Court challenges and yards of press coverage – everyone has now heard of Article 50 of the Lisbon Treaty. As part of a deal to secure Parliamentary approval to trigger the EU withdrawal process under Article 50, […]

Brexit countdown – Don’t bank on a passport

Philip Hammond’s autumn statement earlier this week arguably could have been renamed the “autumnal statement” since the chancellor’s underlying tone suggested the UK is entering a period of gradual decline and slowdown. Does a Brexit Winter lie ahead? And if so, how can we prepare for it? Charles Proctor, a partner at City of London […]

Hard Brexit and the banking industry

It is now clear that the United Kingdom is committed to Brexit, although the nature of any continuing relationship with the remainder of the EU remains to be negotiated. However, it seems unlikely that the current EU passporting system for the financial services industry will continue to apply to UK institutions, or to EU banks […]

BREXIT – where next?

The outcome of last Thursday’s referendum on the UK’s membership of the European Union has sent shock waves through the UK, EU institutions, EU countries and the financial markets. It has also precipitated a leadership crisis in both of the major political parties. All of these developments were easily predictable. But the next stages are […]

BREXIT – where next for your business?

Our March briefing on Brexit examined some of the “macro” issues arising from the Government’s renegotiated deal with the European Union. It also examined some of the options for a post-Brexit deal. With the referendum date now fast approaching, the attached briefing considers the implications of Brexit for selected business lines and the extent to […]