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Today New City Initiative is comprised of 45 leading independent asset management firms from the UK and the Continent, managing approximately £500 billion and employing several thousand people.

Displaying items for Feb 2019

A Brexit Breather for U.K. Fund Managers

A Brexit Breather for U.K. Fund Managers

The risk of a no-deal Brexit has now become unacceptably high for financial market regulators. Conscious that the uncertainty was fuelling instability, European and UK regulators signed two significant MOUs (memorandum of understanding) at the beginning of February 2019 in what should help ease industry concerns about the risk of a Hard Brexit. Both MOUs will only take effect if there is no deal in place ahead of March 29, 2019. The first MOU, which was announced on February 1, 2019, applies to fund management. In short, it is a multilateral MOU between European market regulators and the UK’s Financial Conduct…

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