BlackRock warns of cost and uncertainty of Scottish independence

Scottish castleScottish independence means pension sponsors and trustees would have to change scheme designs and

operations, BlackRock warns in a white paper.

BlackRock says Scottish independence would raise regulatory costs and uncertainty for companies.

“An independent Scotland would bring major uncertainties, costs and risks – mostly for Scotland, but also for the remaining UK,” the asset manager says.

“There is a lot to settle: a currency union or a Scottish pound, Scotland’s opening balance sheet, division of the hydrocarbon bounty, financial regulation, EU membership, tax matters, timetables, and much more.”

Last month, Standard Life, a Scottish insurance company with a large asset management business, said it might move parts of its operations to England, should Scotland vote to become an independent country in September.

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