Banks & Brexit Decisions
Held on Tuesday, November 8, 2016
In association with the London Institute of Banking & Finance
Michael Sholem (Davis, Polk & Wardwell)
As the full complexities of ‘Brexit’ become apparent, financial services are moving to the top of the government’s agenda. But – beyond what Whitehall and Brussels are discussing – banks are already starting to make key decisions about staffing, location and how they are going to run their businesses post ‘Brexit’(if, indeed, the UK leaves).
Article 50 is due to be triggered by the end of March – putting negotiators under the gun. While two years may seem like an eternity to traders, it is a very tight timetable in which to resolve all of the problems that quitting the EU will cause for banks – and, indeed, for other financial firms and for professional service providers.
The London Institute of Banking & Finance (ifs, as was) is delighted that (along with the Centre for the Study of Financial Innovation) it is able to host an evening discussion on the practical and regulatory issues that ‘Brexit’ raises with Michael Sholem, EU regulatory counsel with Davis, Polk & Wardwell. As you will know, Davis Polk is one of the major US law firms, with a client list that includes many of the world’s leading financial firms. Michael joined the firm in June last year, from Slaughter & May, where he was special advisor on European regulatory affairs.