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brexit

Quietly, almost under the counter, the UK's Financial Conduct Authority is preparing itself for life outside the EU with a raft of agreements directly negotiated with regulators around the world.

BIScom Subsection: 

It's very clear that, when Britain is outside the EU, there will be changes to the legal and regulatory framework applicable to, amongst other industries, its financial services sector. It is therefore obvious that UK banks must have representation in Frankfurt where the ECB is based. Not only is this not new, it's not even a tiny little threat to the UK financial sector, no matter what the media says.

BIScom Subsection: 

Since 1997 with the election of the Blair/Brown double act, the UK has increasingly become subjected to presidential-style politics, centralisation of message and a centralised campaign and control that would make Lenin jealous.

Leading that has been the Labour party which has mobilised so-called social media with actual people doing the work that was so effectively performed by e.g. twitterbots in the recent US campaign.

(first published at www.jeffersongalt.com)

CoNet Section: 

A leader in The Economist echoes the official position of, in particular, the USA in saying that "the Iraqi Army is on the brink of defeating Islamic State." In what sounds like a dangerous reprise of the claim that the war in Iraq was won, the assumption that clearing Mosul of this criminal gang will rid the world of its dangers is, and was always going to be, wrong, says Nigel Morris-Cotterill.

CoNet Section: 

A Parliamentary Bill in the UK goes through several stages: first the knockabout (if MPs are awake) in the House of Commons. Then it goes to a Committee Stage and then to the House of Lords. Although those bodies cannot, in effect, cancel the Bill, they can send it back to the Commons for various purposes. With cross-party support, the Bill passed with 498 votes to 114. That was closer than many would have liked.

CoNet Section: 

Those who think that the people who brought the action and the Judges who found in favour of the Complainants simply do not understand: if they want to blame someone, blame whoever stuffed up Bill that provided for a Referendum.

CoNet Section: 

Following on from Part 1 of our analysis of Theresa May's Brexit speech last week, here are the highlights from and comments on the next part of her plan. And how the plan does not reflect the wishes of the people as recorded in the Referendum.

CoNet Section: 

We continue our look at Theresa May's speech setting out her position and plan for the UK to leave the EU.

CoNet Section: 

It's taken Theresa May months to pop her head up and make clear statements about the UK's exit strategy for separation from the EU. There have been hints, partial statements, but there have been no clear policy statements or expressions of exactly what the plan is. This week, she changed that.

And she demonstrated that, at last, she "gets it" so far as the LEAVE vote is concerned.

In this first of a series of highlights from the speech, we explain, with comments, where, on the May plan, the UK, the EU and much of the rest of the world is going.

CoNet Section: 

Diplomats are expert at couching hard truths in soft language, a trick that leads to ambiguity. There's not much of either in the letter Sir Ivan Rogers left for his staff when he left his post several months early so that he was no longer there when negotiations for the UK to leave the EU start in earnest. In Whitehall, this morning, there will be more bloody noses than pulled punches - but Whitehall has a treacle-like approach to criticism. Standard operating procedure is to hang-around until the fuss dies down, then carry on as before.

CoNet Section: 

The televised hearing before the UK's Supreme Court is fascinating, but difficult to follow.

CoNet Section: 

The political posturing that has arisen from the High Court in England and Wales ordering that Article 50 can be triggered only after a Parliamentary vote is ridiculous. Then again, so was the bringing of a case, or the need for one to be brought. Anyone with an ounce of sense always knew that last June's Referendum does not bind Parliament (voters were told that often enough during many TV and Radio programmes and many articles in the media in the period leading up to the referendum) therefore a Parliamentary vote would be required. Anyone who thought otherwise was delusional and lacking in basic knowledge of the fundamentals of how the British legal and parliamentary systems work.

CoNet Section: 

Wherever one looks, economists and market analysts are promoting one or other candidate with words saying that the world will be more stable and better off with that candidate - and that there will be adverse consequences if the other wins. The only logical solution is to assume that, whichever wins, the dollar will fall and markets will take a bashing. So, if capital leaves the US (in real or virtual terms) where can it go?

CoNet Section: 

 

World Money Laundering Report Volume 15 Number 5 World Money Laundering Report Volume 15 Number 5 is now available for download by Site Licence holders.

In this issue:

 

CoNet Administrator

Angela Merkel pays the price for her rash migration policies as the German population, other domestic politicians and even EU equals say "we told you so."

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