INSIDE COMPLIANCE

Collectively, four countries make up the United Kingdom (U.K.), including England, Scotland, Wales, and Northern Ireland. In 2016, an overwhelming number of Scottish citizens voted to remain in the European Union (E.U.) during the U.K. referendum, which resulted in a 51.89 percent vote in favor to leave. After departing from the E.U. in January of 2020, Scottish industries suffered economic losses due to the ‘red tape’ policies imposed by the U.K., making it more difficult to sell Scottish products to E.U. member countries. As a result, Scotland’s independence and nationalist movement grew exponentially, with forty-five of the fifty-nine Scottish seats in the House of Commons going to the Scottish Nationalist Party, with strong support of seceding from the U.K. Additionally, in 2019, Scotland’s Parliament reconvened for the first time since 1707, signaling the Scotland’s desire for self-autonomy and sovereignty. The possibility of seceding poses questions over the future of economic and social regulatory policies for an independent Scotland.