Will ESMA's July opinions make a difference for UK asset managers?
Will ESMA's July opinions make a difference for UK asset managers?
ESMA's July 2017 Opinions might inform how UK asset managers' plans post Brexit may develop. They indicate the direction of travel which ESMA wish to take on the post Brexit scenario for EU based firms and EU regulators. However, whether some of them are within ESMA's powers is debatable, so whether there no binding guidance indications will there in the end have any impact, is at present unclear.