FCA Says It Will Change Fees For Credit Agencies After Brexit
Law360, London (November 15, 2018, 8:14 PM GMT) -- The Financial Conduct Authority, which will take over the licensing and regulation of credit rating agencies and trade repositories when Britain leaves the European Union in March, said it will introduce fee changes next year to help recover costs from new regulatory responsibilities.
Credit rating agencies and trade repositories established in the U.K. are currently licensed and regulated by the European Securities and Markets Authority. This will change after Brexit, when the FCA is expected to take over the reins. The regulator said firms will be charged between £1,500 ($1,915) and £25,000 depending on the complexity of their business. This is a...
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