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Managers could face woes in EU because of ESMA new opinion

ESMA’s opinions on the post-Brexit treatment of U.K. money managers might cause a headache for other non-EU firms, sources warn.

“Significantly, the opinions state that the delegation or outsourcing arrangement cannot result in substantially more portfolio management or risk management being done in the original member state of the relocating entity — effectively constraining how much front-office activity can take place in the non-EU country,”

Source: PIOnline

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