Kristy Grant-Hart (kristygh@sparkcompliance.com) is the Managing Director of Spark Compliance Consulting in London, and author of the book, How to be a Wildly Effective Compliance Officer.
There are three big questions on everyone’s mind here in the UK and Europe this year. The answer to each may strongly affect the profitability and success of every company, as well as the future of the compliance function.
Question 1: What happens after Brexit?
The exiting of Britain from the European Union (EU) is going to be a multi-year process. The news in London focuses on the changing positions and negotiations between the UK and EU, but companies are concerned only with how the outcome will affect them.
One of the biggest concerns affecting UK and EU companies revolves around the immigration status and ability to work for its non-native employees. London in particular is full of EU citizens who currently have the right to work in the UK without any visa status. Likewise, many Brits are transferred into Europe by their companies each year. Many employers are concerned that their highly qualified and experienced team members (including compliance professionals) may have difficulty working within the UK after Brexit, and many Brits who have moved abroad to work in places like Paris or Madrid may find themselves without the automatic right to work within the EU.
This uncertainty is unlikely to be resolved soon, but it’s on everyone’s mind.
