The 9 ways Brexit will affect foreign banks

From Financial Times -

“Banks across Europe and the US have been battered by Brexit. Shares in big global banks outside the UK fell anywhere from 7 to 20 per cent on the day after the UK voted to quit the EU. Though other parts of the market have since recovered, non-UK banks have failed to make back all of their losses.

Brexit will change overseas banks significantly, sometimes for the good. Here are nine ways the vote will affect them.”

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Solvency II: An EU Regulation in a non-EU Nation

From Bobs Guide –

“Following the Brexit campaign, many financial professionals have been left wondering what to do about regulation. Michael Gove claimed that the UK would be better off without the £600 million a week that is spent on EU regulation costs. Although this is a disputed subject, it must be said that the number of European directives and standards in place is colossal. Will the UK continue to comply with EU regulations such as Solvency II, or will there be a stream of new standards that come into force in the years to come?”

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What does Brexit mean for data privacy and cyber-security?

From Continuity Central.com –

“The result of the UK referendum was clear, more than a million people tipped the scales in favour of Leave. There will be at least a two-year period (some say five) before the UK decouples from the EU. It will be a time of profound uncertainty and many are concerned about its effects on cyber-security and data privacy.”

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