Following the United Kingdom’s vote to leave the European Union there are five key questions, which asset managers should ask from a regulatory and practical point of view.
The future of the UK’s financial services passport is an important subject for discussion in the UK asset management space. Existing regulations include passporting arrangements, whereby firms based in one EU member state can distribute EU funds and provide investment management services to the rest of the EU, without the need for further local authorisation. Ultimately, the UK’s exit from the EU could affect the ability of UK based companies to conduct such activities. To read about the potential regulatory impacts if the UK is treated as a Third Country click here
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