The European Securities and Markets Authority (ESMA) has listed nine principles to guide the prudential supervision to be carried out by the national supervisors in the event of the relocation from the UK to the territory of one of the 27 member states of financial institutions wishing to retain access to the European market after Brexit.
“The UK plays a prominent role in EU financial markets and the relocation of entities, activities and functions to the EU27 creates a unique situation...