下周开始金融行业打裁员，预计伦敦金融会裁员7万人左右，约10%的工作。其中JP Morgan 裁员 4000人左右。
主要被裁的是交易Trading,和受MiFID passports影响的业务。
What will the end of ‘passporting’ mean in practice?
The really big issue for banking jobs in London is the end of so-called “passporting” into the EU. Dating back to 1993, passporting has allowed banks headquartered in London to operate across the EU using a branch network without regulatory authorization in each country.
In a note out last year, the Bank of England pointed out that in the absence of passporting after a Brexit, a London-based bank that wants to operate in the EU will need to become authorized in each country. Without passporting rights, and absent a so-called “equivalence” agreement, whereby London is able to access European markets because its regulations are deemed ‘equivalent’ to those in Europe, London-based banks would find it impossible to operate.
In a worst case scenario, Law firm Ashurst says it’s plausible that the end of passporting could mean that UK-based firms, “lose their MiFID passports and therefore cannot deal with EU-based clients (at least in the short term, as it is unlikely the UK would receive a MiFID equivalence assessment in time). ”
That’s huge: MiFID II governs trading in everything from equities to fixed income securities, derivatives and money market instruments. It explains why banks are in such a hurry to activate contingency plans and shift role to European subsidiaries.