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FCA Gives Businesses 15 Months To Follow 'No-Deal' Rules

Law360, London (February 28, 2019, 4:21 PM GMT) -- The Financial Conduct Authority said on Thursday that it will give banks and insurers 15 months from March to follow regulatory rules that will apply to them if the U.K. leaves the European Union without a deal, in a bid to ensure that British businesses have enough time to transition out of the bloc.

The FCA published rules that financial companies must follow if Britain crashes out of the bloc, including changes to the fees that they pay to the regulator and the need for EU firms to abide by certain U.K. laws if they choose to continue operating in Britain....

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