Meet the new regulation dedicated to targeting third-country investment firms’ prudential activities post-Brexit. Here, Practice Insight discusses the proposals with a European Commission spokesperson and buyside in-house counsel
Corporates and asset managers are refusing to sign any repapered contracts in anticipation of a soft or cancelled Brexit. They say they will deal with it nearer the time, and hope regulators will be flexible
Big banks are giving employees their new contracts to be signed and dated once they have officially relocated to an EU hub, while large buyside firms are assessing their Mifid activities
Trade associations are boosting their lobbying efforts for harmonious post-Brexit temporary measures across the EU27. Market sources are struggling to gather all the relevant laws in one place as the news evolves rapidly
The ball is in national regulators’ court to determine what is a genuine or a material adverse contractual change when it comes to Libor repapering exceptions for initial margin rules
