The FCA outlines how it intends to use its temporary transitional powers in a no-deal scenario.
Key Points:
..The FCA has highlighted areas in which transitional relief will not be granted in a no-deal scenario.
..Firms need to prepare now to comply with relevant Brexit-related changes from exit day, although the FCA has indicated that it will take a proportionate approach to supervision and enforcement.
..The FCA has also outlined its plans to set up an FCA FIRDS to record financial instrument reference data for the UK.
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