The Pressure Points on Booking Model Practices

Jonathan: Regulators are really looking into the time commitment so do you have sufficient time to do your activities and services here in the EU or not. The official guidance hasn't moved on that far from the EBA's guidance in 2018 and then super misery statement 521 from the PRA, he says. Simon: I think it applies both ways there were the issues related to third country branches booking into the EU and then there were the Issues around EU trades being booked into the UK for balance sheet reasons. Jonathan: What we really want is a transparent justifiable model for booking so certainly to the extent that trades have been done from London but booked into head office for you know balance sheet reasons