Morrison & Foerster’s Howard Morris explained the impact that the ongoing Brexit negotiations could have on the financial services industry in the Law360 article, “Brexit Debate Enters New Legal Terrain With Talk Of Delay.”
“In the course of negotiation, the life of U.K.-based financial services companies might be made worse because the government makes concessions,” he said.
Whatever deal is made, however, banks and issuers are still likely to shift their resources and operations into the bloc.
“The only advantage, assuming that we still [leave], is that it gives them more time to get regulatory registrations in Europe,” he said. “If they haven’t already taken steps to be ready for a post-Brexit future they are in a pickle already.”