On 23 June 2016, the UK electorate voted to leave the European Union in a so-called
Brexit referendum. The exit result was a surprise for many working in the finance sector.
The change will
impact the position of the UK under critical legislation such as the Capital Requirements
Regulation, European Market Infrastructure Regulation, Market Abuse Regulation and
many other Regulations and Treaties applicable in the UK. We will also see a change as
to the role of the UK in significant market initiatives such as the Capital Markets Union.
It is likely that these changes will present both threats and opportunities. Until policy is
clearer, we will comment on some of the existing challenges caused by EMIR and similar EU