London v. Brussels: Banking sector stranded in Brexit negotiations

A message from our partner:

Dear Global Risk Community member,


As Britain begins negotiations with Brussels on their post-EU relationship, the banking sector is left like the child of a long, ugly divorce.

If the UK does not settle passporting rights and regulatory equivalencies for the interim, this uncertainty could lead to a mass relocation for banking institutions and potentially a decentralisation of operations.

The question whether to ‘leave’ or ‘stay’ now lies with the banks, and in the worst case scenario, it will mean the choice of either EU or UK, not both.

This article evaluates the necessity of passporting rights, equivalency in regulations, Brexit’s impact on data management, embracing BCBS239 compliance, and argues that prudent institutions should favour a conservative approach and emphasise over-disclosure of risk data.

>> Read 'How Should Banks React to Brexit?' here

-If you are interested in learning more on how to prepare for the fallout of Brexit and the upcoming challenges of compliance, join ECB, UBS, RBS, Deutsche Bank, and more at the 2nd International Conference Bank@Risk in January 2017 in Frankfurt, Germany. Learn more

If you have any further questions, please visit or contact us by either calling +49 (0)30 20913 274 or per email!

Kind regards,

Karina Schultz
Bank@Risk Team

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