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Neil Robson Quoted in Financial Times on MiFID II and Brexit

Firm News | August 10, 2017

Financial Services partner Neil Robson spoke with Financial Times on the challenges facing investment companies as a result of Brexit and the upcoming implementation of the Markets in Financial Instruments Directive II (MiFID II). He notes that part of finding the most advantageous European location for an office is in determining how a particular country's regulatory regime will impact one's business, including trade and compensation. "Among our clients' business decisions [as regards where to set up], Dublin is very much no longer on the table because of the regulators' approach [to capping bonuses]," Neil stated. There still remains a great deal of uncertainty, which is dampening the sense of urgency to pursue new EU locations. Neil explained, "It can take six months to get authorized in Amsterdam, so you can take a view next summer. We'll have a sense then, after Brexit discussions have progressed, whether there will be a transition arrangement with EU markets. The regulator will be more streamlined because MiFID II is out of the way." ("MiFID Vies With Brexit as City Traders' Main Problem," August 10, 2017)