Global Glimpses

With one of the most devastating losses in the history of British politics, Prime Minister Theresa May was handed a rebuke of her proposed Brexit framework for the future relationship between the European Union and the United Kingdom.

While the current Brexit deal (set to be voted on Tuesday evening) remains the U.K. government’s top priority, it understands preparation for all scenarios is necessary.

Brexit red tape will cost around £31 billion for EU exporters and £27 billion for U.K. exporters, according to a new report by Oliver Wyman and Clifford Chance. Impacted firms must take steps now, they warn.

The Organisation for Economic Co-operation and Development projected that Britain’s exit from the European Union will result in a sharp slowdown in economic growth in the United Kingdom.

Several banks and other industries are jumping ship from the United Kingdom. But what will this all mean for compliance officers?