Government publishes No-Deal Readiness Report

The Government has published its “No-Deal Readiness Report” detailing the UK’s preparedness ahead of Brexit on 31 October.

The Report contains a section on financial services which, amongst other things, states that a programme of legislation and temporary measures has been rolled out to ensure there is a functioning standalone regime for financial services once the UK leaves the EU, with or without a deal. This includes transferring essential functions currently carried out by the EU to the appropriate UK bodies and introducing a range of temporary permissions and transitional regimes.

The Report urges firms to continue to work with regulators to ensure they are prepared for Brexit.

Rachael Preston

Rachael Preston