November 23, 2020

Only the ‘Norway Plus’ plan can save Brexit

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By NICHOLAS BOLES From Financial Times If parliament blocks May’s deal, the European Economic Area offers an alternative In Westminster, everyone is hunting for a Brexit Plan B. Newspapers are full of reports of various minister meetings behind closed doors over pizza in a desperate attempt to find an answer. For three months, an alternative […]

PRA and FCA clarify impact of Brexit transition for insurance sector

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April 24 2018 | Contributed by Herbert Smith Freehills LLP From ILO Background to latest announcements What are the PRA and FCA saying now? PRA confirms approach to incoming branches and subsidiarisation Impact on services business Recent announcements made by the PRA and FCA clarify their approach to Brexit following the European Council’s agreement to […]

After Brexit

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By Julian Morris From Cayman Financial Review The U.K.’s decision to leave the EU marks a historic shift in the nation’s relationship not only with Europe but with the world. In the short-term, there will be costs to Brexit, as a result especially of changes to the rules governing trade between individuals and businesses in […]

BoE reassures EU banks on post-Brexit restructuring

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By Laura Noonan, Martin Arnold and James Shotter From Financial Times   British regulators have told at least one major EU bank that it will not be forced to establish a separately capitalised UK subsidiary as a result of the Brexit vote, a person with direct knowledge of the situation told the Financial Times. Several […]

MAPLES: ESMA advice suggests further deferral of AIFMD Passport for Third Countries

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By Tim Clipstone, Jon Fowler, Jonathan Green, Philip Ireland, Barry McGrath, Peter Stapleton, Anthony Webster, Paul Govier, Tom Katsaros From Maples On 19 July 2016, the European Securities and Markets Authority (“ESMA”) delivered its latest advice (the “Advice”) to the EC1 as to whether the AIFMD2 passport should be extended to non-EEA jurisdictions (“Third Countries”). […]

Opt-in regimes introduced for EU AIFM Directive compliance

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From International Law Office Introduction Ongoing developments in Europe in relation to EU investor access to non-EU alternative investment funds or EU alternative investment funds managed by non-EU managers have been the source of great debate, mainly as a result of the introduction of the EU Alternative Investment Fund Managers (AIFM) Directive and the planned […]