It is the responsibility of firms’ boards to assess the potential impact of Brexit on their firm and to plan accordingly. This should include early engagement with the Central Bank and relevant UK authorities as appropriate.
New or materially changing entities In terms of new entities or business lines, we have been working for some time with a range of firms who have recognised that they need to relocate some of their activities in order to continue to access the EU market after Brexit. Once again there are asymmetries here. Brexit is an imposed and undesired cost for businesses.