On 31 August 2018, Bloomberg broadcast an interview with Norton Rose Fulbright global head of financial services Jonathan Herbst on its ‘Rules & Return’ show.

In the interview, beginning at 10:15 in the link to the broadcast, Jonathan discusses the impact of Brexit, and particularly a ‘no-deal’ Brexit scenario, on the regulation of the financial services sector in the UK and EU. Jonathan also provides an update on MiFID II, which took effect on 3 January 2018 and highlights the key subjects of inducements, best execution and market structure.

Jonathan notes that market conduct, anti-money laundering and sanctions are the big issues affecting financial institutions more broadly. At a macro level, large banks are exploring the efficiency of their global operating models.