“Ladies and gentlemen, there remains a decisive step, that of the ratification of the UK withdrawal agreement. Without ratification, there will be no withdrawal agreement or transition period. This “no deal” scenario cannot be ruled out. And it is therefore always necessary for each of your communities to prepare for it. To avoid this scenario, it is now up to everyone to take responsibility.”
Michel Barnier, European Chief Brexit Negotiator
Brussels, 6 December 2018
The practical impact of Brexit for both the UK and the rest of Europe remains far from certain. One thing is clear though; businesses need to be prepared.
In this period of uncertainty, your business continuity arrangements are being put under great pressure, and it’s likely that the full implications of Brexit will only become clear at very short notice. It’s crucial then that you plan for a range of outcomes and we at KNEIP are here to help.
As a leading RegTech company based in the UK and Luxembourg, we are uniquely placed to support your UK-EU business model, regardless of the outcome of Brexit. Whether this requires a product restructure, office relocation or third party delegation.
We recently launched a new digital platform which allows our clients to streamline and automate their distribution, reporting and publication activities, all in one place. Kneip help prepare any outcome by providing you with an integrated solution that ready to deploy for your revised UK-EU regulatory obligations, whenever these begin.
Finally, if Brexit does occur, our status as a Professionnel du Secteur Financier (PSF) governed by the Commission de Surveillance du Secteur Financier (CSSF) ideally positions us to monitor the developing financial innovation framework with those regulators based in the post-Brexit markets identified by the UK Government.
Meantime, as always, we recommend you continue to monitor updated information made available by the UK Government, Financial Conduct Authority and European Commission as you finalise your Brexit arrangements.
Our experts follow the latest Brexit developments closely, so look out for further updates via our Blog at Kneip.com/blog or here on our LinkedIn page and if you have any questions, please contact your Key Account Manager or Business Development Manager and we’ll be happy to help.
By Neil Ward