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AFME has today (March 21st) published a report, commissioned from Clifford Chance, which analyses the potential impact of a UK exit from the EU on Europe’s capital markets.
The report, entitled “The UK Referendum: Challenges for Europe's Capital Markets”, was written by Clifford Chance and assesses the legal and regulatory impacts on European capital markets in the event of the UK leaving the EU.
Simon Lewis, Chief Executive of AFME, said: “Given our members’ interest, AFME commissioned this report as part of our fact-based approach to explaining the importance of Europe’s integrated capital markets. AFME believes that vigorous, integrated capital markets are vital for long-term growth in Europe. We hope that this report provides a solid platform for informed discussion in the run-up to the referendum on the regulatory and legal implications of the UK leaving the EU.”
Chris Bates, Partner at Clifford Chance, said: “The EU passports for banks, investment firms and products have shaped the way in which capital markets services are provided in the EU. Our report looks at the alternative treaty frameworks for a UK-EU relationship in capital market services and the extent to which existing 'third country' regimes in EU legislation might mitigate the impact of the UK leaving the EU on crossborder business. However, there is likely to be a long period of uncertainty after a vote to leave as to whether these regimes will be available, which will affect market participants' business planning.”
Click here for full details.
