The Scottish Government's plan to keep the pound and UK financial regulators in the event of independence could raise difficult questions under European law, according to financial lawyers.
The Scottish Government's plan to keep the pound and UK financial regulators in the event of independence could raise difficult questions under European law, according to financial lawyers.
While there is "probably no legal obstacle" to prevent UK financial regulators monitoring foreign banks, Scotland could not force them to do so, solicitors from law firm Brodies have said.
Even a temporary exclusion from the European Union "would make doing business with other member states more complicated", Brodies' partner Elena Fry and public law associate Charles Livingstone also said.
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