The result of the UK referendum on Europe has sent shockwaves around the world. In this issue, we give up our news pages to focus on the reaction of the Channel Islands to ‘Brexit’. While staggering in its implications, it is only one area of uncertainty at the moment. This issue also addresses how Jersey and Guernsey are still waiting for their AIFMD ‘passport’, as well as aiming to make sense of the new General Data Protection Regulation, which will affect data rules for anyone doing business in and with the EU. We also examine the Panama Papers to see what we have really learned in the months since they hit the headlines.