RegTech IntelligenceIt is no secret that the City of London is a significant pillar of the UK economy. With financial services accounting for around 12% of the UK’s economic output, it generates more tax revenues than any other industry. It comes as no surprise then that the post-Brexit UK-EU relationship relating to financial services is a key
One of the key conclusions reached at our Capital Markets conference on 7 March was that regulatory divergence as a potential consequence of Brexit is currently one of the main worries for financial firms. When polled, 53% of our audience indicated that Brexit will be their next significant regulatory challenge. This anxiety derives mainly from
The UK’s departure from the European Union will be a seismic event for the financial sector, requiring extensive planning and transitioning from all corners of the industry. To implement all of the necessary changes in time, many assumptions will need to be made. In order to make this more efficient and lower the substantial costs
Never mind a busy December, all in all, it was a busy year for financial regulation as shown in one of our previous articles, as 384 regulatory documents were captured and uploaded in our trade and transaction RegDelta library. MiFID II Before Christmas, we saw ESMA publish many documents much like in January 2016 with
On Wednesday 14 September, the EU Financial Affairs Sub-Committee heard evidence from Mr. Simon Gleeson, Partner at Clifford Chance, and Mr. Peter Snowdon, Partner at Norton Rose Fulbright, for its Brexit Inquiry into financial services. Over the course of an hour, the discussion focused on how UK firms might hope to invoke rights of ‘equivalence’
So far 2016 has been one of the most contentious years since the G20 agreed the regulatory reform agenda seven years ago. With ever-rising costs, increasingly more severe penalties, and continued issues with data quality, it would be easy to claim the plans conceived in the wake of the crisis are not going to get
This is the second in a series of occasional blogs we’ll be writing about what Brexit means for IT and IT Law in the coming weeks and months. Deirdre Moynihan reviews what Brexit is likely to mean for Data Protection, where the approach to implementing the General Data Protection Regulation could well turn out to
This is the first in a series of occasional blogs we’ll be writing about what Brexit means for IT and IT Law in the coming weeks and months. It looks at the choices facing the UK IT industry around Brexit and Article 50. In the second, Deirdre Moynihan reviews what Brexit is likely to mean
So, it’s official. The voting public of the United Kingdom have made their decision and, with a 52% majority, the result is final – the UK has declared that it wants to leave the European Union. Over the past few weeks, we’ve seen the polls fluctuating wildly and the odds of leaving grew determinedly, sending
With both sides of the Brexit debate feeling the heat, and the countdown timer running out of sand, there is less than a week before the voting public of the United Kingdom converge on the ballot stations to decide whether they see a future in the European Union or whether they would rather bring to an