Investment Association response to the invocation of Article 50
Commenting on the invocation of Article 50, Chris Cummings, Chief Executive of the Investment Association, said:
"Today the Prime Minister has started the clock ticking on the 730 days the UK has to leave the European Union. We know the deadline, but not the deal.
"The asset management industry serves millions of savers in the U.K. and across the globe, and we will work with the Government to help shape a deal that puts their interests first.
"Achieving a post-Brexit deal that is mutually beneficial for the UK and the EU is key to our industry continuing to service its clients across the world. We need a bespoke agreement that hinges on mutual market access, access to global talent, legal certainty and preserving the entirety of the UK's financial services 'ecosystem'. The Government's principles, including a priority to manage the evolution of regulatory frameworks to maintain a fair and open trading environment, are the right way to approach the negotiations.
"Businesses also need time to implement and adapt to any changes, to minimise disruption to their customer and client services.
"We will continue to work closely with Government and regulators in the UK and across Europe to support the ongoing negotiation process."