Traders Confess Their ‘Questionable’ Brexit Workarounds
By William Canny and Lucy McNulty
January 11, 2021, Financial News
Caught flat-footed by Brexit, traders and bankers in the City offered some shocking examples of workarounds to get deals over the line.
Because the UK government’s 11th-hour Brexit deal with the European Union was notably light on provisions for the nation’s massive financial services sector, “UK-based firms are effectively now operating under their no-deal/hard-Brexit scenarios,” said Tej Patel, partner and regulatory practice lead at London consultancy Capco.
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