Distribution post-Brexit - how will the regulations apply?

Assessing the impact of financial rules on UK businesses

Many firms were hoping that the UK and the European Union (EU) would agree a mutual recognition of funds, writes Marco Boldini, head of financial services regulatory (asset management) - legal at PwC.

However, in light of recent developments in the negotiation process, this will likely be subject to an autonomous 'equivalence' decision by each party, if it happens at all.  Investment Association appoints first ever Europe head In addition, given the current state of play, this will likely be limited to the current third-country regimes on the part of the EU rather than a bespoke arrangement. An equivalence decision by the EU would switch on the third-country regimes envisaged by certain EU financial services Directives for UK firms, but it remains to be seen when and to what ext...