Geier and Magotsch Author Article on German Legislation to Limit Harm of Hard Brexit in ‘Börsen-Zeitung’

March 14, 2019

Partner Bernd Geier and Of Counsel Michael Magotsch from BCLP’s Frankfurt office authored an article published March 9 in Börsen-Zeitung on the so-called “Brexit Steuerbegleitgesetz” – legislation designed to limit possible harm to the German economy by the United Kingdom leaving the European Union at the end of March without a withdrawal agreement. While German lawmakers seek to gain advantages regarding market access for banks and financial institutions in the UK, the future access of banks, investment firms and payment service providers from the UK will be very restrictive in Germany. At the same time, the new legislation seeks to ease termination of employment contracts in large banks in Germany to raise the attractiveness of Frankfurt to international banks. Börsen-Zeitung is one of the leading finance publications in Germany.