Bruegel Event Recordings

In the run-up to Brexit, UK-based financial firms are considering their options on how to organize their operations across the future divide between the UK and EU27. In turn, national regulators and European supervisory authorities need to determine how much they ask for in terms of “substance” requirements to authorize local operations of investment banks, asset managers and insurers – i.e. how self-sustaining these operations have to be in relation with those that may remain in Britain. This debate raises important questions about regulatory arbitrage, international openness, EU27 supervisory architecture, and the internal market for financial services