The UK will be considered a “third country” as soon as it leaves the European Union (EU), which will potentially affect personal data exchanges with the UK, the EC’s consumer directorate has said in a Notice to Stakeholders. In view of the “considerable uncertainties”, particularly concerning the content of a possible withdrawal agreement, the notice said […]

The Bank of England will allow European banks to continue operating without creating expensive subsidiaries after Brexit, the BBC reported, the opening gambit in a tussle with the EU over London’s position as a top global financial hub. The BoE’s decision, if confirmed, would mean European banks offering wholesale services would not face new hurdles […]

UK Votes To Leave The EU: What Does it Mean for Asset Managers? The voters have spoken. Britain will (absent any new deals) leave the EU. Under the EU Treaty, the exit process should take at least two years. During this two-year period, UK-based asset management entities, including UK subsidiaries of US and other overseas firms, […]