Brexit - How Will It Affect The Compliance Industry?

There has been a lot of coverage on what the effects of a British exit would mean for the economy and public services, but we can’t help but wonder what the implications will be for the UK’s growing compliance sector.

Let’s explore the possibilities.

Before even attempting to analyze the potential effects on the industry or regulatory environment, it is important to understand that outcomes will depend on how Britain will negotiate its relationship with the EU after a Brexit scenario.

Some potential models are:

• The Norwegian model (UK becomes a non-EU member of the European Economic Area)
• The Swiss model (UK becomes a non-EU member of the European Free Trade Association)
• The Canadian model (UK signs a bilateral trade agreement with the EU)
• The WTO model (UK trades with Europe under WTO rules)

Table of Contents
Introduction
The industry
Current EU regulation
The regulatory environment
Sanctions
The effectiveness of the fight against financial crime