• 5,000 UK finance jobs may be moved by Brexit, half earlier forecast: The number of finance jobs to be shifted out of Britain or created overseas by March 2019 due to Brexit has dropped by half compared to six months ago to 5,000 roles, firms employing the bulk of UK-based workers in international finance told Reuters. A Reuters survey of 119 firms, following up on a survey published in September 2017, also found that Paris has overtaken Frankfurt as the most popular destination for the new roles. Some banks lowered the estimates for jobs they need to move as they consider more carefully how much of their operations they will need in the European Union if Britain loses access to the bloc’s single market. (Reuters)
  • May wants NI voice at Brexit talks table: Northern Ireland is having difficulties in communicating concerns on Brexit due to the lack of a functioning executive, the chair of Westminster’s Northern Ireland Committee has said. The prime minister told the committee she would like a voice from Northern Ireland at the Brexit talks table. Theresa May said she is making sure that Northern Ireland will have more of a voice for the next round of talks. (BBC News)
  • BoE gives green light to EU banks for Brexit transition: The Bank of England said lenders and clearing houses can use their existing regulatory licences until the end of the Brexit transitional deal agreed last week by European leaders. The BoE said in a statement on Wednesday that European-headquartered banks and clearing houses that use the so-called passport to access the City of London from their home country can carry on doing so throughout the transitional period without needing new regulatory approval. The move comes after the European Council last week agreed that the UK could remain bound by EU rules until the end of 2020 in a bid to smooth the effects of Brexit, which would otherwise take effect in a year’s time. (The Financial Times)

 

 

Author

Jessica's practice focuses on international trade and anti-bribery work, encompassing customs, export control and sanctions matters. Jessica's trade work includes advising international clients on fast-moving and evolving EU and UN sanctions, notably in respect of Iran and Russia, and on compliance with UK and EU export controls. Her trade experience also includes advising on tariff classification and customs valuations. Jessica's anti-bribery experience includes assisting with investigations, and advising clients on compliance with anti-bribery laws. Jessica has also taken a lead role in monitoring Brexit-related developments; analysing how they will affect the UK's trading position generally, and clients' businesses specifically. She has helped clients begin to conduct risk assessments of how Brexit will impact their businesses, and has assisted them in developing tailored Brexit strategies. Jessica also presents at various seminars, webinars, and conferences on the complexities of Brexit. Jessica advises global clients on complex issues arising from international transactions and works with clients across a number of sectors including pharmaceuticals, defence, finance, aviation, energy, and telecommunications. Jessica has also worked previously in Paris, and is fluent in French.

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