Financial Services News

How The NI Protocol Dispute Could Hit UK Financial Services


By Alex Davidson (June 20, 2022, 10:54 AM BST) — The European Union’s legal action against the U.K. for failure to comply with the Northern Ireland Protocol has raised concerns that the bloc’s regulators could now pay closer attention to whether British financial services companies have adequate risk management and governance in the EU.

Lawyers in Britain have warned that the quarrel over the Brexit document might escalate into a trade war if left unchecked. Some also say bad feelings arising from the dispute could spill into financial services if European regulators come under pressure to ramp up compliance scrutiny of U.K. firms. 

A closer look at some of their EU-based operations,…

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