Insurers, Investment Managers Face Most Brexit Risk: FCA
Law360, London (January 10, 2019, 8:44 PM GMT) -- Insurers, investment managers and wholesale financial services could have the most to lose if Britain crashes out of the European Union without a trade deal on March 29, the Financial Conduct Authority said Thursday.
Those industries are especially exposed to a hard Brexit because of their extensive cross-border trading, the City regulator said in an annual report about the U.K.'s changing financial landscape. The watchdog cautioned that the three industries should brace for greater regulation, regardless of how Britain leaves the EU in 11 weeks.
"After the UK's withdrawal, the FCA may need to supervise firms whose structures have become more...
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