Via New Financial – “Capital markets across Europe would be significantly disrupted if the UK votes to leave the EU in the referendum on June 23rd. This would create uncertainty, complexity and increased cost for market participants and their customers in the UK and the rest of the EU – according to our in-depth qualitative survey of the views of market participants from different sectors of the capital markets. Download the full report here

The report shows unequivocally that Brexit would cause significant dislocation to the capital markets in Europe, with UK-based market participants and their customers most affected. The potential impact of Brexit on European capital markets’ is based on a series of in-depth interviews with 25 market participants from across the EU and from five different sectors of the capital markets (banks / investment banks, asset managers, hedge funds, private equity and venture capital, and trading and market infrastructure). The aim of the report is to identify what market participants in different sectors of the capital markets see as the main benefits of the single market to their business and to their customers, what they would like to see on the negotiating table in the event of Brexit, and what they see as the main potential risks in the event of Brexit. The report also analysed the interconnected nature of UK and EU capital markets; the potential impact of Brexit on the capital markets union project; the initial practical impact of Brexit; the future direction of UK and EU regulation under Brexit; and what sort of relationship market participants would like the UK to negotiate with the EU in future. The report does not explore the politics of the debate: that is a question for the British people and the respective campaigns advocating Remain and Leave. It does not try to boil down the benefits or consequences of either outcome to a single number, and does not focus on the impact on London as a financial centre. It aims to be accessible and as jargon-free as possible…”