ECB Urges Banks To Move Staff To EU As Brexit Nears

Law360, London (August 15, 2019, 3:38 PM BST) -- The European Central Bank has told U.K.-based banks they are behind schedule with their Brexit preparations, urging them to move additional staff to the European Union ahead of the Oct. 31 deadline in case Britain leaves without a deal.

The central bank said lenders have transferred “significantly fewer activities, critical functions and staff” than necessary if they want to continue to continue doing business in the bloc. The regulator called on lenders to accelerate their contingency plans in a statement Wednesday.

“So far, banks have transferred significantly fewer activities, critical functions and staff to euro area entities than originally foreseen as...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS