Deloitte comments on the Brexit technical paper for financial services
23 August 2018
Vishal Vedi, Deloitte’s financial services Brexit leader, said: “Many financial services companies are progressing well with their Brexit programmes though much remains to be done. The focus over the next few months for most will be on dealing with issues such as contract continuity, client repapering, booking models and achieving operational scale.
“It gives some indication of the direction of travel, and there’s been good progress by the UK regulatory authorities to ensure continued operations after Brexit. However, there is still a lot of uncertainty and much still hinges on discussions between the Government and the EU. Negotiations are expected to carry on for some time and, as such, we would expect further movement on both sides. The more granularity the Government can give the industry, the better. Until then, financial services firms should treat Brexit – no-deal or not – like any business risk and prepare for the scenario of most change, even if less disruptive solutions are eventually found.”
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