UK boardrooms express little concern on 'Brexit,' but clouds darken over finance sector

In Britain today, it is almost impossible to get away from media coverage of the possibility of the country voting to leave the European Union in a June referendum: or “Brexit” as it is widely known.

But while media hype escalates on both sides, a recent poll suggests that 47% of the U.K.’s boards have not considered the possibility at all… Only 41% of U.K. boards “have considered the result of the referendum on the U.K. exit of the European Union and the effects that this might have on their organization,” says the poll by ICSA: The Governance Institute and company secretarial recruitment specialist The Core Partnership. Over half of the respondents confirmed that their organization had no planned contingencies or strategy to deal with an exit, and respondents were split over the effect Brexit would have “with responses ranging from no impact, negative, little effect, unknown to ‘PANIC’” said ICSA. Opinion was divided as to whether or not EU regulation is “out of sync” with the U.K.’s business needs, it said. Read more…

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