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Aug 10, 2016

Brexit and Equivalence: Review of the Financial Services Framework Across All Sectors

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Since the UK voted to leave the EU on 23 June 2016, there has been much speculation about the form of the future access arrangements between the UK and the EU for financial institutions. In a scenario where no new deal is done, an equivalence framework would come into play, which has been established for institutions that are in the investment business, reinsurance, fund management and market infrastructure sectors. Firms established outside the EU can have access to European investors and markets. Equivalence regimes also assist for prospectuses, accounting standards and capital rules. Many UK institutions may find they are able to continue to access EU markets under the EU equivalence framework.

In this client note, we consider the position of UK institutions that wish to do cross-border business under equivalence regimes established by proposed and recently published European legislation, if the UK were to exit the EU fully.

View full memo, Brexit and Equivalence: Review of the Financial Services Framework Across All Sectors

Authors and Contributors

Barnabas Reynolds

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5528

+44 20 7655 5528

London

Thomas Donegan

Partner

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5566

+44 20 7655 5566

London

John Adams

Partner

Investment Funds

+44 20 7655 5740

+44 20 7655 5740

London

Reena Agrawal Sahni

Partner

Financial Institutions Advisory & Financial Regulatory

+1 212 848 7324

+1 212 848 7324

New York

Russell Sacks

Partner

Financial Institutions Advisory & Financial Regulatory

+1 212 848 7585

+1 212 848 7585

New York

Hervé Letréguilly

Partner

Capital Markets

+33 1 53 89 71 30

+33 1 53 89 71 30

Paris

Tobia Croff

Partner

Capital Markets

+39 02 0064 1509

+39 02 0064 1509

Milan

Kolja Stehl

Counsel

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5864

+44 20 7655 5864

London

Sandy Collins

Professional Support Lawyer

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5601

+44 20 7655 5601

London

Oliver Linch

Associate

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5715

+44 20 7655 5715

London

Ellerina Teo

Senior Associate

Financial Institutions Advisory & Financial Regulatory

+44 20 7655 5070

+44 20 7655 5070

London