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ARTICLE · 12 AUGUST 2016

Regulatory Round-Up - Summer Update 2016

Gowling WLG
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The regulatory experts at Gowling WLG provide their bite size overviews of the major legal and regulatory developments and news for the consumer, asset and automotive finance sectors.

United KingdomFinance and Banking
Greg Standing
Greg Standing
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The regulatory experts at Gowling WLG provide their bite size overviews of the major legal and regulatory developments and news for the consumer, asset and automotive finance sectors

Brexit reaction

Reaction to Brexit vote

In the immediate aftermath of the Brexit vote, the Governor of the Bank of England, the Director General of the FLA and the FCA each issued statements reacting to the vote. Common themes included the emphasis that the short term effects of Brexit would be minimal and that, for the meantime, the message was very much 'business as usual'.

This was followed by a statement on 29 June by the business secretary, Sajid Javid. In this Mr Javid emphasised that the UK remained a member of the EU and the single market and that government would look to maximise the opportunities afforded by Brexit whilst simultaneously ensuring that this access is protected.

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