While the detailed Brexit negotiations have not yet started, there are obvious concerns about the long-term impact on the Financial Services sector and as well as any organisation that has an interest beyond UK shores. Speculation is rife, and posturing on potential outcomes has already begun.
The Financial Policy Committee at the Bank of England has already asked banks to clarify how they would handle a potential sudden break in their European relations, after Brexit, as there could be significant disrupt to liquidity as well as banking services as a whole.
“The European Union has revealed a draft law to give it the power to move the lucrative euro clearing business out of London and keep it in the EU after Britain leaves the Union in 2019.” - http://www.bbc.co.uk/news/business-40264755 13th June 2017
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London has flourished as a financial center for decades in part because global banks, from offices around the bustling City of London district, could sell their services freely around the European Union’s 28-nation trading bloc. Now that British voters have decided to leave the EU — the complicated international divorce known as Brexit — the city’s status as a banking hub is under threat. If U.K. firms lose easy access to Europe’s $19 trillion economy, which seems likely under the terms laid out by Prime Minister Theresa May, Britain becomes a far less attractive place to do business.