Brexit worries, cybersecurity risks, excessive debt loads and geopolitical uncertainty “dominate the risk landscape” for financial services firms, according to a new survey published by the Depository Trust & Clearing Corp. (DTCC), a post-trade market infrastructure provider for the global financial services industry. With the United Kingdom currently expected to leave the European Union, an… Read More >>
Brexit to Be as Difficult in 2018 as Last Year
Despite U.K. politicians wanting to focus on social and health issues, Brexit stubbornly stayed front and center on the U.K. political scene throughout 2017. There were many nail biting moments as the talks progressed and this will certainly be the case for 2018. The firing gun was started last March when U.K. Prime Minister Theresa… Read More >>
Big Battles to Follow Breakthrough in Brexit Talks
It has been a rollercoaster couple of weeks for U.K. Prime Minister Theresa May. After six long torturous months of negotiations, there was a breakthrough on the Brexit divorce front last week between May and European Commission President Jean-Claude Juncker and the European Union’s chief Brexit negotiator Michel Barnier. However, the euphoria was short lived…. Read More >>
E.C. Eyes the Prize of Euro-Denominated Clearing
The European Commission (E.C.) has been trying to get its hands on London’s lucrative $900 billion-per-day euro-clearing business for years and it is using Brexit to seize the prize. While the plans stop short of a forced relocation after the U.K. leaves the European Union (E.U.), newly released proposals from E.C. officials would tighten the… Read More >>
Election Clouds the Future for Theresa May & Brexit
For the second time within a year, U.K. voters went to the polls and produced a surprise result. Last June, it was Brexit and this time around it is a hung Parliament as the incumbent Tories missed the 326 mark that they needed to form a government. Despite calls for Prime Minister Theresa May to… Read More >>
U.K. Election to Write Brexit’s Next Chapter
It has been almost a year since the British voted on the European Union referendum and very few thought they would be heading back to the polling stations so soon. However, in a surprise move, U.K. Prime Minister Theresa May last week called a snap election for June 8 that is likely to clarify the… Read More >>
Messy Divorce to Follow Brexit Launch
After much debate, discussion and wringing of hands, U.K. Prime Minister Theresa May pushed the Brexit button on Wednesday, March 29, and handed the Article 50 letter to European Council president Donald Tusk to start the long and thorny two-year negotiation process. While both sides were trying to strike a conciliatory tone, as with most… Read More >>
Bill Provides Next Rocky Chapter for Brexit
In the latest chapter of the Brexit epic saga, the U.K. government has published a succinct, 137-word bill that will allow England to trigger Article 50. The brevity of the bill along with the five-day window to debate it has sparked angry protests from opposition parties claiming there is not enough time to debate and… Read More >>
U.K. Fund Managers Brace for Rollercoaster Year
While 2016 was full of ups and downs for the fund management industry in the U.K., this year will be equally as challenging, according to EY’s wealth and asset management industry outlook for 2017. Firms will not only have to contend with the uncertainties of Brexit but also the continuing roll call of regulation and… Read More >>
U.K. Prime Minister Outlines Terms of ‘Hard-Brexit’
It is ironic that Theresa May outlined her blueprint for taking the U.K. out of the European Union single market in the same Lancaster Hall that the last female U.K. prime minister and fellow Tory — Margaret Thatcher — extolled the virtues of the single market in 1988. Now the country is heading toward a… Read More >>
