FCA Extends Deadline For Joining Brexit No-Deal Regime

Law360, London (May 24, 2019, 6:15 PM BST) -- Europe’s banks and insurers have until Oct. 30 to apply for authorization from the Financial Conduct Authority to continue serving British customers if the U.K. leaves the EU without a deal, the watchdog said Friday, urging firms to use the extra time to prepare for their new obligations.

Financial services companies will have until the end of October to apply for Britain’s temporary permissions regime, pushing back the April 11 deadline, the City watchdog said. Businesses in the European Economic Area that sign up would be allowed to continue working in Britain under so-called passporting rules for the duration of their...

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