Predicting Brexit's Lasting Impact On US And UK Markets

Law360, New York (April 12, 2017, 5:49 PM EDT) -- Zoë Connor

Bradley J. Richards

Emma Russell Article 50 has been triggered and, after 44 years as a member, the U.K. is now officially leaving the EU.

Prior to the June 23, 2016, referendum there was much "Project Fear" hype within the global financial services camp. The overwhelming feeling was that Brexit would have a significant negative impact, largely because leaving the EU brings the right to "passport" between the UK and the European Economic Area into question.

Passporting rights enable an EEA member state to carry on business in another EEA member state without having to seek a separate license...

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