CFOs are in the middle of a revolution as they modernise their Finance functions and become true business partners. This newsletter provides facts and trends that will help pave the way towards the achievement of these two objectives.
The acts they went in two by two
Solvency II, MiFiD II, PSD2 – how many EU directives will emerge from the ark after the Brexit waters recede?
One crucial aspect of the post-Brexit world for organisations in the UK Financial Services sector is whether EU legislation will continue to apply in the UK, and if so, for how long once the flood waters of the Brexit storm have abated?
Whichever segment in Financial Services your company inhabits, there are several EU legislative regulations that restrict and impact your operations and approach to business.
Now that we are in the second iterations of these EU directives Solvency II for defining cash structures and reserves; MiFiD II for the impact and control of markets and instruments; and PSD2 for the banking and retail payments landscape.
But what will be there impact in the UK? Which will be retained as is within UK law, which will be re-drafted, re-shaped or watered down, and which will be scrapped altogether? The UK’s desire to retain passporting rights within the EU for its regulated businesses will have some bearing here.
Whilst we can speculate as to the direction of travel as this stage, one thing we can be sure of is that CFOs and FDs will have to plan with more speed and flexibility than ever before.
In this July newsletter we look at the new post-Brexit world from a number of angles as we all try to stay afloat in these turbulent times and provide strong thought leadership to our business colleagues. We also have our regular features. We hope you enjoy it and we look forward to your comments!