Andrew Bailey on the FCA’s Brexit preparations

The Financial Conduct Authority has published a speech by Andrew Bailey, its CEO, setting out the preparations the FCA has made for ‘a full range of possible outcomes and scenarios’ relating to Brexit. Mr Bailey gave an overview of progress and preparations for Brexit and outlined certain issues that still require further action in the UK or the EU. These are: (i) the MiFID II share trading obligation; (ii) the derivatives trading obligation; (iii) clearing; (iv) uncleared derivatives; (v) data exchange; (vi) progress on contract repapering; and (vii) retail financial services preparation.

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