Reuters (July 27)
2017/ 07/ 28 by jd in Global News
“British-based investment firms’ long-standing ability to manage billions of euros of assets elsewhere in Europe could be threatened by Brexit.” Newly issued EU guidance suggests regulators will crack down on “delegation” with the aim of preventing investment firms from “setting up ‘empty shell’ subsidiaries in an EU country, to allow them to continue serving European clients, but leaving the bulk of their management staff and operations in London.”
Tags: Assets, Brexit, Clients, Delegation, EU, Europe, Euros, Guidance, Investment, London, Shell subsidiaries, UK
