Financial Conduct Authority announces extension to its use of the temporary transitional power in light of Article 50 extension

Regulatory Updates | 25/07/19

The Financial Conduct Authority (FCA) has established that it intends to extend the proposed duration of the directions issued under the temporary transitional power to 31 December 2020. This is in response to the extension of Article 50 and is intended to reduce potential disruption to firms and other regulated entities in the event of a no-deal Brexit. Aside from the additional time the FCA’s strategy remains unchanged.