News for hackers. Stuff that matters.

A comment on HSBC CEO Says Bankers Generating 20% of London Revenue May Move. Parent comment

Re:HSBC CEO Says Bankers Generating 20% of London Revenue Ma... by tankenmate on Wednesday January 18, 2017 @11:15AM (#13427411)
Europe wants significant financial services provided to European companies and individuals to take place within the EU; just like the US, Russia, etc... Nothing new here, this is exactly why the banks are going along with it. If you want to provide financial services within the EU you need to have an office within the EU and conform to EU regulations; not really that surprising or fanatical.
[ Parent | on HN ]
Re:HSBC CEO Says Bankers Generating 20% of London Revenue Ma... by seren on Wednesday January 18, 2017 @11:21AM (#13427488)
On a not so related topic, the European Medecines Agency has its headquarter in London. I am not sure they are planning anything but it would be weird if a regulatory agency was working from outside of the area they are regulating.
[ Parent | on HN ]
Re:HSBC CEO Says Bankers Generating 20% of London Revenue Ma... by johansch on Wednesday January 18, 2017 @11:31AM (#13427584)
The European Police College (CEPOL) left the UK for Hungary in 2014. Perhaps the detectives deduced that UK would leave EU?

https://www.cepol.europa.eu/media/news/european-police-colle...

[ Parent | on HN ]
Re:HSBC CEO Says Bankers Generating 20% of London Revenue Ma... by kgwgk on Wednesday January 18, 2017 @11:43AM (#13427718)
There are many places in the EU that would like to be a new home for the EMA. See for example http://www.politico.eu/article/brexit-may-prove-irelands-luc...

In the meantime, some people may decide to look for another job before being transfered god knows where... https://www.ft.com/content/2ca416ba-c8f8-11e6-8f29-9445cac89...

[ Parent | on HN ]
Re:HSBC CEO Says Bankers Generating 20% of London Revenue Ma... by CydeWeys on Wednesday January 18, 2017 @11:39AM (#13427678)
It seems inevitable that they'll move then. They're probably just delaying for now on the slim hope that Brexit doesn't happen.

It'd make about as much sense as if the EPA were located in London.

[ Parent | on HN ]
Re:HSBC CEO Says Bankers Generating 20% of London Revenue Ma... by zigzigzag on Wednesday January 18, 2017 @11:20AM (#13427466)
US, Russia, Asia don't care. London does clearing and derivatives work in dollar, renminbi etc without any of those countries having problems with it.

If you check, you'll find it's only the EU that has a hangup about the physical location in which euro-denominated transactions occur.

[ Parent | on HN ]