Apr 13, 2017
Robert Cannon tells Trading Risk how European ILS managers may have to contend with extra compliance costs following the UK's departure from the EU.
An excerpt from "ILS Managers to Face Increased Costs Post-Brexit," Trading Risk, April 13, 2017:
Robert Cannon, special counsel at law firm Cadwalader, Wickersham & Taft LLP, said: "The worst case scenario, post-Brexit, is UK-based managers are going to be in the same position as existing non-EU managers, such as those in Switzerland, Bermuda and the US, and those non-EU managers seem to be able to connect with investors in the EU."
He continued: "It's going to impose a cost but, ultimately, it's not going to require any fundamental changes to their business model."
The Bank of England has initiated a review of its own exposure to LIBOR,
Scott Cammarn, Jonathan Watkins, Mark Chorazak, Aaron Lang
On 7 June 2019, Regulation (EU) 2019/876 (CRR II) was published in the Official Journal of the EU.