FCA

FCA launches further consultation ahead of Brexit




The FCA has launched a further consultation on its approach to the UK’s exit from the EU.

The paper sets out additional proposals to prepare for the possibility of the UK leaving the EU on 29th March 2019 without an implementation period.

It focuses on a range of amendments not included in its earlier consultations, including changes to its approach to the temporary permissions regime and credit rating agency.

Nausicaa Delfas, executive director of international at the FCA, said the regulator was preparing for a range of scenarios.

“We have published further proposals to prepare for the possibility the UK leaves the EU in March 2019 without an implementation period.

“Our aim is to provide certainty and confidence for firms operating in the UK.

“These proposals will ensure we have a robust regulatory regime from day one, and a smooth transition for EEA firms and funds currently passporting into the UK.

“We welcome continued engagement from across the sector on these preparations for Brexit.”

The consultation is open until 21st December 2018 and the FCA is keen to hear from the widest possible range of stakeholders across sectors, including industry bodies and consumer groups.

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