BoE braced for 130 licence applications before Brexit

Industry News | 03/10/17

An article has been published on reporting on comments by Sam Woods, Chief Executive officer of the PRA, on banks’ preparations for Brexit. Mr Woods reported that the PRA expects 130 financial firms from across the EU to apply for authorisation to continue to carry on investment business in the UK after Brexit. He also commented that the PRA will have to decide by Christmas 2017 if EU branches located in London will have to convert into subsidiaries and be directly supervised by the PRA.
PRA, 27 September 2017