UK insurers have warned that Brexit is unlikely to lead to a big dilution of the EU’s Solvency II capital rules. Solvency II, which came into force at the start of this year, is seen by many in the industry as an expensive, bureaucratic regime that puts them at a disadvantage when doing business outside the EU. Some people hope that Brexit will be an opportunity to roll it back.

Bank of England Governor Mark Carney said the central bank would probably need to pump more stimulus into Britain's economy over the summer after the shock of last week's decision by voters to leave the European Union, Reuters reported. Carney also said he would not consider resigning from the Bank if his critics from the referendum's Leave campaign, who were angered by his warnings of a Brexit hit to Britain's economy, end up filling a power vacuum in the government.

Within hours of Britain’s vote to leave the European Union, it started, the International New York Times reported. A Lithuanian lawmaker wrote to the chief executive of HSBC, trying to court the bank. A website promoting Frankfurt as an attractive location to invest went live. A Berlin start-up published an online how-to guide for anyone looking to move to the German capital.

Damian Kimmelman is exactly the kind of entrepreneur the U.K. government says it needs. His London startup has 100 employees and expects to hire many more, Bloomberg News reported. Unfortunately for the British economy, Kimmelman’s new people won’t be in the U.K.: He changed his plans after voters chose to leave the European Union last week. “We’ll be distributing our team, opening up new offices in Europe rather than focusing on the U.K.,” said Kimmelman, whose company, DueDil, provides data-analytics tools to study private companies.

The head of Scotland’s government met with European Union leaders in Brussels Wednesday for talks about protecting the country’s interests in the bloc, as different parts of the U.K. begin to jostle for new arrangements following last week’s vote, The Wall Street Journal reported. A majority of voters in Scotland, Northern Ireland and Gibraltar favored staying in the EU in last Thursday’s referendum while the U.K. overall voted to leave the bloc by a narrow margin.

The regulator that monitors UK financial reporting is to investigate two of the big four accountancy firms over their role in the failures of the retailer BHS and the banking group HBOS, The Guardian reported. The Financial Reporting Council, responsible for overseeing UK accounting standards, began an investigation into PricewaterhouseCoopers over its audit of the collapsed high street chain BHS when it was owned by Sir Philip Green.

After Brexit, creditors may be impacted when assets of insolvent companies are sought for recovery in Europe. This was the view set out today by R3, the trade body for insolvency professionals, in a statement covering how the EU referendum result may affect the corporate insolvency process. Andrew Tate, president of R3, said: “Leaving the EU will have a major impact on the way corporate insolvency works in the UK. The UK’s insolvency regime does not exist in a vacuum. It is entwined with rules on employment, tax, property, and more; and all of these are linked with European rules.

The sale of billions of pounds of taxpayer-owned shares in bailed-out UK banks has been shelved as a result of stock market turmoil spurred by the vote to leave the EU, the Financial Times reported. Plans to start the sale of £2bn of retail shares in Lloyds Banking Group over the next six months have been dropped owing to economic uncertainty following the referendum result, according to government advisers, dealing a blow to UK taxpayers.

Moody’s Investors Service has changed the outlook on the UK’s credit rating to negative from stable following the EU referendum result, Bloomberg News reported. The agency said the result will herald “a prolonged period of uncertainty with negative implications for the country’s medium-term growth outlook”. “During the several years in which the UK will have to renegotiate its trade relations with the EU, Moody’s expects heightened uncertainty, diminished confidence and lower spending and investment to result in weaker growth,” the agency said.

Bond and currency traders seeking refuge as the results of the U.K. vote on membership in the European Union come in are finding that the world’s financial-market havens aren’t so safe, Bloomberg News reported. There were already signs that liquidity, the ability to trade without affecting prices, was deteriorating in some investment oases in advance of Thursday’s ballot. Liquidity has dropped by about a third in European sovereign bonds, according to David Page, a senior economist in London at AXA Investment Managers.