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Pierre-Yves Rahari

ESMA and FCA agreement: At long last ...

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Pierre-Yves Rahari

The FT reports today that the ESMA and the FCA have struck an agreement that would protect the delegation model (amongst other things ...) in case of no-deal Brexit on March 29th. Seemingly this agreement will substitute the much-discussed MoU's that have not materialised yet, so it is good news overall. This will bring some relief in the EU Asset managers Boardrooms ... The FT quotes a senior figure at the EFAMA: "Ensuring that delegation continues to be authorised as it is today is of paramount importance to asset managers," i.e. this move would allow EU Funds houses to continue delegating the management of £1.8T worth of assets to London-based portfolio managers in case of a hard-Brexit.

 

Good news, or good news?

 

 

 

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Eva Keogan

It's made a lot of headlines over the last week and long overdue I think - something else which caught my eye was this other FCA announcement which is a very positive move too - will be interesting to see what comes out of this. Will Brexit be a catalyst for innovation? It seems it might just be

WWW.FCA.ORG.UK

The Global Financial Innovation Network (GFIN) – a group of 29 international organisations including the Financial Conduct Authority – is inviting applications from firms wishing to test innovative financial...

 

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