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Welcome to Graham Bishop.com

Our new service "Brexit and the City - the Impact" builds on the popularity of my series of videos about the impact of Brexit on "the City" - shorthand for the financial services industry throughout the UK.

Details are here


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Financial Services Club/ZYen video with Alderman Mainelli and Graham Bishop: Brexit: Ending the City's Dominance of European Finance?


How might this play out by say 2024? Could the divergence cause the end of the City’s dominance of European finance? It might well do.

The future of the financial services industry – centred in the City of London – matters enormously to the health of the United Kingdom’s economy. The Trade and Co-operation Agreement (TCA) has few provisions on financial services and the UK now appears set to drive a wedge between EU and British rules so it can “benefit” from its new-found Brexit freedom. In reality, this “wedge” is unlikely to benefit the economic prospects of the City or the United Kingdom.

There can be no doubt that the EU will use the “autonomy of its decision-making process” – as stressed in the TCA. If the UK wishes to row alongside the EU super-tanker and “take” its rules, then the UK will remain “equivalent”. But current UK policy intentions suggest there will be an ever-widening gulf by the end of this Commission’s term in 2024 – as the logical outcome of UK policy. The internationally mobile financial services industry will undoubtedly take account of this probability in planning the location of future business opportunities.

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About GrahamBishop.com

Graham Bishop's analysis targets the interaction of the driving forces of politics and economics as they force the required changes in financial regulation – at the macro level - rather than covering the micro aspects of detailed implementation. These are precisely the topics where a well-informed financial professional should remain competent:  it can form part of their Continuing Professional Development (CPD).

Banking union and capital markets union are already underway, but obstacles remain and consumer protection is a necessary conditon for success.

The next big project – enhancing the international role of the euro – is only under discussion but the EU is seeking to neutralise any “weaponising” of the dollar

Environmental, Social and Governance (ESG) policies are a key priority for the new Commission – with a European Green Deal planned within its first 100 days. But “sustainable finance” goes beyond “green” and includes social considerations as well as the governance that brings it to the forefront of financial decision-making.

The Fin Tech Action Plan will help the financial industry make use of the rapid advances in technology such as blockchain and other IT applications and strengthen cyber resilience. The impact on payment systems will be at the cutting edge.


 

Access our insights

As a `Friend of GrahamBishop.com' you can easily `scan the horizon’ for politics and economics driving regulatory reform of European financial markets by  joining the 'Brussels' Finance Watchers community

for full details, click: Standard service   Gold service





His proposal for a Temporary Eurobill Fund is one of the range of options in this study. His proposal offers a modest, technical but concrete step that can be expanded progressively into a financial, economic and political structure if circumstances develop propitiously. This author has developed the TEF plan over several years and has comprehensively updated it in the form of “30 FAQs”. Click to download.



Consultancy Financial Services Deepening EMU Education and Learning

MiFID II has been in force since 2018 and requires many investment professionals to be knowledgeable and competent - by holding a qualification; having proper experience; verifying that they undertake Continuing Professional Development (CPD) and that firms record all this for their Competent Authority.

GrahamBishop.com offers access to our CPD programme via our `Friends' services - with  structured and unstructured CPD products. These services are extremely cost-effective for CPD purposes: Our Standard service provides 6 hours of structured CPD at €20 per hour and the Gold service gives a total of 10 hours at €24 per hour. Details

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