City Brexit Prep Bill At £4B Amid Warning Against No-Deal

Law360, London (June 26, 2019, 11:42 AM BST) -- Financial services companies in Britain have spent £4 billion ($5.1 billion) moving people and assets overseas ahead of Britain's withdrawal from the European Union — and could end up paying out a lot more if the country crashes out without an agreement, a Big Four accounting firm has found.

Relocating staff and operations, seeking legal advice and drafting contingency plans has cost companies £1.3 billion, and businesses have thrown another £2.6 billion at building up new headquarters in European cities including Dublin and Luxembourg, EY said in a report on Tuesday. 

The pace at which businesses are relocating employees and money has...

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