Brexit

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Due to exceptional market circumstances, Standard Life Investments has taken the decision to suspend all trading in the Standard Life Investments UK Real Estate Fund (and its associated Feeder Funds) from 12:00 noon on 4July 2016. The decision was taken following an increase in redemption requests as a result of uncertainty for the UK commercial real estate market following the EU referendum result.

If you voted for Brexit and like open-ended UK property funds, we have some bad news | FT Alphaville

Opportunity or disaster? Small firms describe the impact of the Brexit vote The vote to leave the EU has struck a mighty blow to many small businesses, but others say it has opened up opportunities. They share their stories

Opportunity or disaster? Small firms describe the impact of the Brexit vote | Guardian Small Business Network | The Guardian

The European Union is to show its determination to make no concessions to the UK on Brexit terms by telling Switzerland it will lose access to the single market if it goes ahead with plans to impose controls on the free movement of EU citizens. The Swiss-EU talks, under way for two years but now needing a solution possibly within weeks, throws up the exact same issues that will be raised in the UK’s exit talks – the degree to which the UK must accept free movement of the EU’s citizens as a price for access to the single market.

EU tells Swiss no single market access if no free movement of citizens | World news | The Guardian

Part of London’s attractiveness as an international financial centre is its access to the internal market of the wider European Economic Area (EEA). By using a UK licence as a European passport, foreign financial firms can offer their financial services throughout the EEA. London as a financial centre is also home to the bulk of euro-denominated trading with access to euro-settlement and clearing systems. If the UK cannot secure a ‘Norway’ deal and stay within EEA, the UK will lose the passporting rights and access to the euro settlement and clearing systems.

Lost passports: a guide to the Brexit fallout for the City of London | Bruegel

HSBC Holdings Plc has been inundated with foreign-currency account applications as British customers rush to protect their savings, spooked by the post-Brexit rout in the pound. Those who’ve requested the accounts, which allow customers to hold their cash in foreign currencies for overseas trips or to cover international payments, are being told the waiting time is 10 to 15 days, according to Jenna Brown, a spokeswoman for the London-based bank. That’s opposed to five working days advertised on the bank’s website.

HSBC Inundated by Foreign Currency Account Requests Post-Brexit - Bloomberg