Voters approved of the notion for Britain to leave the European Union in June 2016, a decision known as Brexit. This decision will greatly impact the financial services industry in Britain. With “passporting” no longer an option, the problems regarding contract continuity and the limited level of access firms based in the UK have to the EU single market will persist.
Key learning objectives:
Explain why Brexit impacts the financial services industry in Britain
Define passporting and describe proposed alternatives to passporting
Explain the issues Britain will face post-Brexit in regards to contract continuity and securing access to the EU’s single market