The Financial Conduct Authority and Bank of England have set out regulatory plans in case of a no Brexit Implementation period

Industry News | 01/03/19

The FCA has written to the Treasury Select Committee informing it of its publication of a package of measures on its approach following UK withdrawal from the EU. Under the Temporary Transition Powers the FCA intends to publish rules, binding technical standards and directions in late March 2019 which will take effect on exit day. The PRA has published a similar package of measures. The Bank of England has also confirmed its intention to provide firms with broad transitional relief on their regulatory obligations in the event that the UK withdraws from the EU on 29 March 2019.