Brexit has created significant uncertainty for alternative fund managers. It remains unclear whether the E.U. and U.K. can reach a mutually acceptable agreement for a smooth transition or whether there will be a “hard” Brexit. A recent program sponsored by the New York Alternative Investment Roundtable and the Chartered Alternative Investment Analyst Association delved into Brexit’s impact on consumers and financial markets; U.K. access to the E.U.; and future regulation. Marianne Scordel, founder of Bougeville Consulting, moderated the discussion, which featured Mikhael Ayache, Economic Counselor and Deputy Financial Counselor of the French Treasury in the U.S.; Raymond Mouhadeb, U.S. general counsel of Lombard Odier Asset Management; and Barbara G. Novick, vice chairman and co‑founder of BlackRock. This article summarizes the key takeaways from the program. See our two-part series on the potential impact of Brexit: “Effect of Hard vs. Soft Brexit on Hedge Fund Managers” (Jul. 7, 2016); and “Hedge Fund Marketing and Distribution Opportunities in a Post-Brexit World” (Jul. 14, 2016).