Brexit: The main challenges for UK financial services

Departure from EU could affect MiFID compliance

Daniel Flynn
clock • 4 min read

Law firms have highlighted some of the biggest risks to financial services firms, as support for a UK exit from the European Union reaches a record high.

Prime Minister David Cameron has confirmed a referendum will take place on 23 June. According to recent polls, the results are close, with a survey of 1,735 people by market research firm YouGov forecasting 42% of Britons would vote to leave, the highest level of support yet, compared to 38% who would stay. Well-known City figures have come out on both sides of the debate, but most commentators agree the financial services sector would be severely impacted if voters backed a Brexit. In particular, regulatory experts believe a departure could compromise managers' ability to comply w...

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