作者：金杜律师事务所 King & Wood Mallesons
At the moment, a range of Financial Services businesses such as banks, insurance companies and asset managers are able to operate across the EU as long as they have a base in the UK. This is known as passporting.
However, if Brexit occurs, passporting into the EU from the UK would not be possible unless special arrangements are put in place. Banks from outside the EU would no longer be free to just set up in the London and gain access to the wider market in the EU. To continue to maintain operations across Europe they would need to set up subsidiaries across mainland Europe in places like France, Germany, Amsterdam and Dublin, potentially, so those cities would actually benefit from taking away financial services from the UK.
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