UK, EU Regulators Urge Firms To Prepare For No-Deal Brexit

Law360, London (July 17, 2020, 6:04 PM BST) -- British and European Union markets regulators on Friday warned their financial sectors to prepare for all Brexit scenarios, including the possibility that the U.K. will walk away from the bloc's regulatory framework on Dec. 31 without a replacement regime in place.

The Financial Conduct Authority and the European Securities and Markets Authority told financial institutions they must ensure that they plan for all eventualities when the Brexit transition period ends in December. The U.K. left the EU on Jan. 31, but withdrawal talks between the two sides have been stalled without progress on a trade agreement or future links for financial...

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