BOE says it welcomes UK-EU agreement on Brexit implementation period
The Bank of England issues an update on the regulatory approach to preparations for EU withdrawal
- Presumes that there will continue to be a high degree of supervisory cooperation between UK and EU post-Brexit
- Says that banks may assume that authorisation is needed only after transition
- Reasonable for financial services firms to plan that they will be able to continue undertaking activities during implementation period
The full release can be found
here.
here.
Rather dry stuff, mainly pertaining to financial services and their operations prior to the transition and post-transition. A lot of regulatory stuff in there as well.
Not really one to add to or change the Brexit picture.
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