The United Kingdom’s withdrawal from the European Union has presented unprecedented challenges for the U.K.’s financial services sector. On the day after the 2016 referendum, the FMLC established the Brexit Advisory Group (formally the High Level Advisory Group on Brexit). The Advisory Group is composed of experts in financial services and in law and guide the FMLC’s work on issues of legal uncertainty arising from Brexit affecting the wholesale financial markets. This may include relevant constitutional questions, issues relating to the manner of Brexit and issues arising from the terms of any new relationship with the E.U. as well as from any proposals for new U.K. legislation.