FCA prepares for a no deal Brexit

[mlawson71]

The Financial Conduct Authority (FCA) in the UK has opened an emergency phone line, as well as a series of specialized information websites that are intended to help the financial sector cope with the possible consequences of a no deal Brexit.

FCA also warns UK operating businesses that they will have 15 months  to comply with the new rules in case UK leaves the EU without a deal in the end of October.

“The FCA has undertaken significant work to prepare for the UK’s departure from the EU. We have published extensive information on our Brexit pages and held events, reaching firms and trade organisations around the country,” Nausicaa Delfas, an executive director at the FCA, said in a statement, adding that ‘We expect firms to ensure they are ready if there is a no-deal. If firms haven’t finalised their preparations, there is a risk they could be impacted.”

 

[DerekMan]

I think that no one was prepared for Brexit vote. FCA is now doing only thing which they are able to do in such a short period of time in order to keep markets in order

[mlawson71]

I agree, that referendum result was a shock to everyone.