FCA Says Banks Must Still Adhere to EU Rules
Posted: Mon Jul 18, 2016 11:31 am
The Financial Conduct Authority (FCA), Britain’s financial markets watchdog, said today that it will continue to apply all European Union rules until there is further clarity on future relations with the bloc.
After voting to leave the union last month, the FCA issued a statement detailing the impact of Brexit on financial regulation.
Questions have since been raised as to whether banks and investment firms would continue having access to the bloc’s single market, and if so, which rules would apply.
In his first annual meeting of the FCA as chief executive, Andrew Bailey said: “As a starting point, I would emphasise ... (read more)