Weekly highlights—17 January 2019

Weekly highlights—17 January 2019

Brexit

 

Markets expect Brexit will be delayed, BoE's Carney says

The governor of the Bank of England (BoE) told a panel of lawmakers that sterling rose following the landslide defeat for the government’s draft withdrawal agreement because financial markets believe the prospect of a no-deal Brexit ‘may have been diminished’. Mark Carney said markets think that the terms of Britain's departure from the European Union could be softened, or that Brexit could even be cancelled, after Prime Minister Theresa May's landslide defeat on Tuesday night. The pound briefly crashed below $1.27 before rebounding strongly to almost $1.29 after lawmakers voted by 432 to 202 against May’s draft plan.

Financial services trade bodies respond to Brexit meaningful vote result

A number of comments were made by financial services trade bodies on the UK Parliament’s meaningful vote on Brexit. The Association for Financial Markets in Europe (AFME), the CityUK, the Investment Association (IA) and the Personal Investment Management and Financial Advice Association(PIMFA) each bemoan the continuing lack of certainty and express their disappointment at the ongoing possibility of a no-deal Brexit.

Credit Institutions and Insurance Undertakings Reorganisation and Winding Up (Amendment) (EU Exit) Regulations 2019

SI 2019/38: This enactment is made in exercise of legislative powers under the European Communities Act 1972 and the European Union (Withdrawal) Act 2018 (EU(W)A 2018) in preparation for Brexit. This enactment amends UK subordinate legislation in relation to the reorganisation and winding up of credit institutions and insurance undertakings in order to address deficiencies in retained EU law which arise as a result of the withdrawal of the UK from the

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