Welcome to long Brexit
Despite there being a deal now, Brexit will never be done. Even if the end of the transition period can be navigated with minimal disruption, the lack of an institutional underpinning to the UK-EU relationship points towards decades of negotiation over dozens of policy areas, including financial services. Welcome to long Brexit.
AIFMD & UCITS reform cloaked in Brexit fog
On-going high-level talk about reform of AIFMD and UCITS is generating nervousness in the European asset management industry. Was the 18 August letter on this topic from ESMA to the European Commission really about seeking to promote efficiency, or is it more a post-Brexit reckoning that could upset current successful arrangements?