On 16 September, the FCA published a speech, delivered at Bloomberg, on
“Preparing for Brexit in financial services: the state of
play”. Although the FCA has already published significant
guidance for firms, including on its Brexit web
pages, this speech is significant insofar as it summarises the
FCA’s evolving domestic and international policy approach, in
addition to identifying the key specific regulatory issues that
remain unresolved in a no-deal scenario.
In high-level policy terms, the FCA reaffirms its commitment to
“close involvement with our counterparts around the
world”, including active dialogue with ESMA and individual EU
member states, whatever the Brexit outcomes. The speech also
highlights the FCA’s overarching need to preserve outcomes
that are consistent with its policy objectives, with particular
focus on market integrity objectives. The FCA summarises its
approach to preparing for no-deal, and highlights that although
substantial progress has
