How European investors can access British funds if negotiations with the EU fail
Backstop plan proposes that in the event of no Brexit transition period passporting rules will continue for further three years
Most UK fund managers fear the government has no idea what the asset management industry needs from Brexit to secure a good deal, according to research by consultancy MJ Hudson.
Edinburgh-headquartered Standard Life is expected to choose Dublin as the centre for its European Union operations after the UK government completes the two years of Brexit negotiations.
A quarter of the asset management businesses monitored by accounting giant EY have now announced plans to move operations to Europe due to Brexit.
Asset and wealth managers managers have greeted the Supreme Court ruling that triggering Article 50 requires a vote in parliament with a notable lack of enthusiasm.
As the British government struggles to trigger an exit from the European Union, fund distribution heads at some of the biggest asset managers share their thoughts on the implications for their UK and European operations.
With Britain’s impending exit from the European Single Market all but confirmed by UK prime minister Theresa May this week, it’s time to face the possible consequences of the announcement for the UK financial sector, and for asset managers in particular.
Freedom of movement for staff is of increasing importance to asset managers in a post-Brexit world, EY has said.
Esma, the European financial regulator, has concluded there are no ‘significant obstacles’ to extend passporting rights for alternative investment funds (AIFs) to seven non-EU jurisdictions: Canada, Guernsey, Jersey, Japan, Switzerland, Hong Kong and Singapore.