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ARTICLE · 24 APRIL 2018

FCA Puts Brexit And Consumer Protection On The Priority List

Pinsent Masons
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The Financial Conduct Authority has released its business plan for 2018/19, focusing heavily on the resources needed to deal with the UK's withdrawal from the EU.

United KingdomFinance and Banking
David Heffron
David Heffron

The Financial Conduct Authority (FCA) has released its business plan for 2018/19, focusing heavily on the resources needed to deal with the UK's withdrawal from the EU.

According to the plan (62 page / 3.9MB PDF), Brexit is a key priority for the regulator as it seeks to ensure an appropriate transition to the new regulatory environment after the UK's withdrawal next March. The FCA's work will include working with regulated firms and monitoring the risks Brexit poses to its objectives, ensuring it is operationally ready for withdrawal, and cooperating with its international partners.

The regulator said "the additional cost of our EU withdrawal work outside our redeployed resources, is £16 million", and it expected its work in this area to continue past the March 2019 deadline.

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