Insight / 19 October 2020
A Growing Rivalry: the UK's Financial Services Sector Post-Brexit
With the end of the Brexit transition period quickly approaching, there has been an increase in discussion surrounding the UK’s financial services sector post-Brexit.
In a recent article from The Banker’s Global Risk Regulator, Justin Pugsley explores the UK’s financial services sector post-Brexit and discusses the growing EU-UK financial services rivalry. With the EU making revisions to its regulatory framework, there is the potential for both jurisdictions to quickly diverge on their rulebooks.
Discussing the UK’s access to Europe post-Brexit, Daniela Klasén-Martin, Group Head of Management Company Services, explained that, “there are MoUs [memoranda of understanding] between Luxembourg and the UK”.
She went on to share how she believes that delegating portfolio management to London should be possible, as well as comment on potential regulatory hurdles with the marketing of UK funds.
Read the full article in Global Risk Regulator.