On November 5, the UK Financial Conduct Authority (FCA) published a speech by Nausicaa Delfas, FCA Executive Director of International, on Brexit and maintaining market confidence.
The speech covers a wide range of Brexit topics and provides an overview of the FCA’s current priorities relating to Brexit, including its work to ensure there is a robust regulatory framework on exit day, if the United Kingdom leaves the European Union without an agreed transition period (No-Deal Brexit). Ms Delfas sheds light on the temporary permissions regime being implemented in the case of a No-Deal Brexit, stating that 1,300 EU-based firms and funds have expressed an interest in the regime. The temporary permissions regime will allow EU firms and funds to continue regulated business in the United Kingdom in the case of a No-Deal Brexit (for further details, see the July 27 edition of Corporate & Financial Weekly Digest). Continue Reading