The European Commission (EC) has told UK-based asset managers they must prepare for all Brexit scenarios, with the industry facing "considerable uncertainties" as the country prepares to leave the bloc.
In a letter written by the EC's Directorate-General for Financial Stability, Financial Services and Capital Markets Union, seen by Investment Week, asset managers were told "preparing for the withdrawal is not just a matter for EU and national authorities but also for private parties". It said: "In view of the considerable uncertainties, in particular concerning the content of a possible withdrawal agreement, stakeholders, including managers of investment funds and investors are reminded of legal repercussions which need to be considered when the United Kingdom becomes a third country." ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
