City of London High-Flyers Get Ready to Migrate: Brexit Bulletin

What’s happening? The consequences of Brexit are starting to play out in the City of London – and in some more unexpected places.

The rules for London’s financial services firms may still be uncertain after Brexit, but one result is already clear: a steady stream of people and business leaving Europe’s financial capital. First it was stock-trading, now fund managers. They are concerned about a Brussels-shaped threat to $2 trillion of business. As Lucca de Paoli and Silla Brush report, the EU is considering tightening the rules on delegation, meaning the management of some assets could be forced out of London.