With the Article 50 process having been triggered, a key question the UK government should be considering is how the domestic regime for asset managers might be adapted to mitigate certain of the effects of a ‘hard’ Brexit.
Of course, the ongoing relationship with Europe will be of vital importance to the asset management industry and certainly a central pillar of the upcoming negotiations should be ensuring that there is an appropriate transitional period to avoid a regulatory cliff edge. However, there will inevitably be managers whose investment and fundraising focus is on the UK. It would therefore seem appropriate to consider whether a revised domestic legislative and regulatory framework needs to be established to sit alongside the EU-equivalent regime. Please see our article on this topic, originally published by Funds Europe.