The Impact of
Brexit
on Financial Institutions

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Brexit Impact on Financial Institutions

BREXIT

On 29 March 2019, the UK will leave the EU after 46 years of continuous membership.

Disentangling of the UK from the various European institutions into which it has become woven will not be a trivial task; arguably it will be the most complex demerger ever contemplated. Impacts include the potential disruption to the lives of millions of European nationals living outside their home country, the disruption to complex supply chains in industries such as automobiles and aviation, and the disruption on capital flows and the financial services industry.

Implications for Financial institutions

Banks, which will no longer be able to ‘passport’ licences from the City of London to the EU and vice versa and the European Central Bank requires banks to uphold a presence that is more than an “empty shell“ within EU territory. What exactly Brexit will mean for a Financial Institution, and what actions will need to be taken as a result? The exact answer to this question still depends on the result of UK-EU negotiations, but likely outcomes and their implications can already be analysed now.

SCENARIO ANALYSIS

In a short series of six videos, Avantage Reply provides an introduction into the topic and offers a comprehensive whitepaper for a more detailed scrutiny of the situation and its possible future development.

A STATE OF UNCERTAINTY

International banks are currently in the process of finalising their Brexit strategy, including location, booking model, resources, business model, and permissions. The challenge faced by many is uncertainty: how will the political negotiations end, and what will this mean for business?

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07.11.2018 / BREXIT

News & Communication

BREXIT: Pet sounds?

The British agriculture ministry recently advised UK tourists planning to travel with their pets after Brexit to mitigate no-deal Brexit risk by seeking veterinarian clearance four months in advance. These pet sounds are a microcosm of a broader issue: whereas once cross-border activities were painless, post-Brexit, the future will be less so.

05.11.2018 / Financial Times

Press Article

Equivalence - What does it mean for Financial Institutions?

Does “equivalence” solve the Brexit woes of the financial services industry? Oscar McCarthy curbs the enthusiasm that follows the latest news about a possible deal for the financial sector.

01.11.2018 / Amsterdam

Event

Brexit Lunch

Avantage Reply is partnering with the Dutch Foreign Banker’s Association to discuss the impact of Brexit on Financial Services