Select Page

The potential strain upon the Bank of England’s regulatory arm post-Brexit

In these August days there is currently a lull in the Brexit negotiations but talks will resume in the autumn after the summer recess and the UK Conservative party’s conference. From a banking perspective, not enough attention is being paid to the important issue of how the financial world will deal with the potential loss of passporting’ rights for London, writes Dmitry Leus.

“There is no Brexodus” – Dmitry Leus considers the banks’ approach to post-#Brexit planning

How will the banks cope and adjust to possible restrictions on London-based operations post-Brexit? First we must consider that the UK’s negotiations with the European Union have only just begun. Whatever the City might want in terms of a softer Brexit, the truth is that it is too soon to tell. While the banks may indeed be pushing for “mutual recognition” of regulation and “mutual access” to markets as conditions for Brexit, they also must be realistic about what negotiators on the EU side will accept. And so the preparations and manoeuvres on the part of the banks begin – writes Dmitry Leus