14 March 2016

Brexit in Brief: Financial Services Regulation


Transcript

So, Mr Cameron has now been to Brussels, he has spoken to the other 27 member states and he has walked away with what he describes as a very good deal, particularly a very good deal in relation to the Financial Services Centre that is London.

Whilst we are very proud to house some 300,000 people working in this sector in London with 159 foreign banks that are based here, one could have seen that we have a lot to lose. But perhaps that is not where we are going.

I think things are moving along to the point where we recognise that London is also the major financial centre for Europe as well as the UK, and Europe will recognise that. However, where we are now, with the concessions that the Prime Minister has achieved, we might have to consider what rules and regulations these institutions will be bound to, in the event of a Brexit.

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