'Kilt-edged securities': BlackRock's vision of an independent Scotland

BlackRock has outlined several major challenges facing the UK financial sector if Scotland votes for independence on 18 September.

A note to clients, released last week, stressed the uncertainty concerning an independent Scotland’s financial regulation, as well as a lack of clarity over its future currency, fiscal plans and borrowing powers. But it also painted a picture of a business-friendly nation, where an independent Scottish government would woo “the Scottish grouse that lays the golden egg”. Interim phrase Scottish fund managers with investment trusts may relocate regulated activities should Scotland vote to become independent, BlackRock said. While an independent Scotland is likely to adopt the Sol...