FCA takes regulatory control in event of no deal Brexit
The watchdog has been granted temporary transitional power to delay changes made under the EU Withdrawal Act.
The Financial Conduct Authority (FCA) has outlined how it will use special transitional powers to ensure a stable regulatory environment if the UK leaves the EU without a deal.
The Treasury has put forward draft legislation for transitional provisions if the UK leaves the EU without a withdrawal agreement.
According to the FCA this is intended to minimise the disruption for firms and other regulated entities in this scenario.
The temporary transitional power would give the FCA the ability to
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