How Brexit Has Affected the Financial Services Industry in the UK? The financial services industry has suffered from the impact of the United Kingdom's 2016 decision to leave European Union. Recent statistics from the UK Finance Association show that nearly two-thirds of European institutions that provide financial services and banking in Europe believe Brexit will have a negative effect on their business operations. This article will examine the impact of Brexit on UK's financial services sector, and offer strategies to mitigate these negative impacts. The withdrawal of the UK from the EU represents one of the most significant changes to its relationship with continental Europe since 1945.
These implications have wide-ranging consequences, but the most significant are for firms in the financial services sector. As a result of leaving the single market, many companies face considerable challenges in terms of regulation, access to talent, taxation and competition. Definition Of Brexit Overview of the UK Financial Services Industry Regulations Outlook.