Brexit market access: special report

Author: Tom Young | Published: 26 Jan 2017

market has financial institutions planning for the worst. In this special report, IFLR finds an industry struggling to agree on everything from equivalence to euro clearing

On June 24 2016, the City of London woke up in a funk. The UK's electorate had voted by 52% to 48% to leave the European Union. As a result of the vote, London's status as a major financial hub was under threat. Since then, UK Prime Minister Theresa May has committed to trigger article 50 by March 31 and on January 17 she confirmed what many had been expecting for months: that the UK would leave the single market.

What is less clear is where that would leave an industry so reliant on such access. There are plenty of options, if little certainty. Assuming the EU passport is removed, would firms be able to gain access via equivalence, and if so, how would...



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