January 15 2019
Commenting on the outcome of the Meaningful Vote, Chris Cummings, Chief Executive of the Investment Association, said:
“It is extremely disappointing that after such long negotiations the Brexit uncertainty continues.
“It is critical that every effort is made to avoid a no-deal exit from the EU, and the potential cliff-edge effects that this could bring. While asset managers have been working on no-deal contingency plans for a long time and are prepared for this scenario, it still remains the least desirable option for our industry, and for the millions of people who entrust us with their pensions and savings.
“It is imperative that the regulatory co-operation agreements are finalised so that firms can plan with certainty and the savings of millions of people in Europe can continue to be invested wisely and managed across borders. Given the uncertainty that today’s result brings, firms will continue to keep their no-deal contingency plans under review.”
Notes to Editors
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