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Banks Must Weigh Branch Versus Subsidiary In Brexit Plans

Law360, London (February 26, 2018, 6:04 PM GMT) -- With Brexit just over a year away, U.K.-based banks can choose between opening a branch on a budget or a fully operational subsidiary as legal options for securing continued access to the European market to satisfy strict licensing requirements set out by the European Central Bank.

While a subsidiary might seem the obvious solution, the choice is not that simple, lawyers say.

When Britain leaves the European Union at the end of March 2019, U.K. and other major international banks operating from Britain will lose rights...
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