What Brexit would mean for the UK financial services industry?

The result of the EU influence on UK financial services legislation is that the UK legislative framework for regulating financial services is entwined with EU regulation both because it has implemented directives and because it relies on regulations. Further, a large proportion of EU legislation implements international obligations or guidelines (ie those agreed at global level with countries other than just the EU), albeit the EU may “gold-plate” those obligations or guidelines for the purpose of its internal market.

Read more at Chris Skinner’s Blog

 

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