Newsweek (February 8)
“A hard “Brexit could threaten 30,000 jobs in London’s world-class finance sector,” according to a recent report, if the firms “lose their ‘passport’ to operate across the EU.” Of course, nobody will really know until Brexit transpires, but the same study suggests “17 percent of all U.K. banking assets might be on the move as a result of Brexit” and the U.K.’s share of the European financial services market could contract from the current 90% to around 60%.
Economist (January 5, 2011)
The EU and Financial Services Authority (FSA) announced guidelines governing bonuses for the financial service sector. The Economist is not impressed, characterizing the guidelines “as remarkable and unhealthy regulation.” The Economist laments that “bad bonus rules are worse than bad bonuses” and may have unintended consequences that increase, rather than decrease, risk.
Tags: Bonuses, EU, Financial services, FSA
