A gloomy but logical view on the storm coming down the road
In my previous post, I set out my thoughts on what Brexit might look like for UK-based firms offering regulated financial services within the EEA.
You can read my thoughts here.
In summary, I consider it extremely unlikely that any new passporting rights will be granted to UK firms and that, following a transitional period, firms will likely lose both existing passporting rights and full, comprehensive access to financial markets within the EEA.
In this post, I will look at the potential impact of Brexit on (i) UK fund managers and (ii) the UK payments services industry, including Fintech and what the UK might hope to achieve in negotiations in these areas.
In my view, the UK’s overriding objective with respect to the fund management industry will be to ensure that UK-based fund managers are able to continue managing and marketing their funds within the EEA with as…
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