Brexit - What next?
June 24, 2016 - Firm News
Following the outcome of the UK referendum, and the vote to leave the European Union, many of you may have questions about what this means for your business, your regulatory status and how you should prepare your organisation.
If you have any questions please do not hesitate to get in touch with us. We have established a dedicated hot line with access to a team of experts across our offices to respond to any urgent questions you may have. You can call us on +44 (0) 203 745 7219.
Our regulatory experts with specific industry and regulations expertise are available to your business to establish an action plan on what the likely impact will be and how you need to prepare your business. There will be short-term and long-term implications which may affect how financial services firms operate and in particular how advisors and fund managers raise capital, arrange transactions, conduct business and interact with counterparties.
We have worked with a number of clients in recent months to prepare for this event and the following key topics should be taken into consideration:
- European legislation vs UK legislation with regards to operation of funds e.g. AIFMD, UCITS, MIFID, EMIR, CRD IV, the prospectus directive, passporting rights, payments, regulatory capital, registration and reporting requirements
- Regulatory requirements for capital raising, marketing and fund formation
- The availability of key personnel, in particular, rights to work in the UK
- Regulatory requirements for information technology, data and cyber security
- The impact on reporting requirements and risk management
We assure you that Lawson Conner remains highly committed to London and the UK and we believe that we are well positioned to continue supporting you in your compliant dealings with European counterparties. Over the last two years, we have heavily invested in people, processes and technology which has made us one of the most highly rated service providers in the UK. We are recognised for a prudent and trusted approach to risk management, compliance and regulation.
We will be working closely with regulatory bodies and will keep you informed on how Brexit changes will impact the financial services sector and your business.
In the meantime we will focus on delivering an exceptional service to our clients, in accordance with our values and the reputation of our business.