It's lobby or leave for London's 350,000+ financial
services employeesBritain’s vote to leave
the EU in June has presented a unique opportunity to reshape
legislation in the country. And with some in the market saying
it’s either lobby or leave for the
City’s bankers, and a long line of rival
continental cities queuing up to welcome them,
it’s incumbent on the industry itself to make sure
its demands are heard.
Today bankers in Britain spend an estimated €34 million
($37.8 million) per year lobbying the EU, with considerable
success. Focal points in the past have been the Banking Union,
the EU’s capital markets’ union and
the Transatlantic Trade and Investment Partnership (TTIP).
Hedge funds are among the groups reportedly gearing up to push
for consistency in regulation, and guaranteed visa rights for
EU employees, but equivalent taskforces are said to be
springing up across the Square Mile at a pace....