Brexit Is 'Most Immediate Challenge' For FCA This Year

Law360, London (April 17, 2019, 1:47 PM BST) -- Britain’s withdrawal from the European Union will place “considerable demands” on the Financial Conduct Authority in the next year, the regulator said Wednesday, as Britain's finance sector remains exposed to the threat of a cliff-edge Brexit.

The City regulator's chief executive, Andrew Bailey, said as he presented his agency's plans for the next 12 months that Brexit would continue to consume its resources and dominate attention.

“Dealing with Brexit will be the most immediate challenge we face,” Bailey said. “In order to ensure we are a regulator that continues to serve the public interest, we need to adapt to the ever-changing environment.”...

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