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FCA questioned on Brexit risks

27 February 2019

On Wednesday 27 February, the House of Lords EU Financial Affairs Sub-Committee hears evidence from the Chief Executive Officer of the Financial Conduct Authority (FCA)

Witness

Wednesday 27 February 2019 in Committee Room 3, Palace of Westminster

 At 10.15am

  • Andrew Bailey, Chief Executive Officer, FCA

Likely questions

  • What are the key remaining cliff-edge risks in the event of a ‘no deal’ Brexit? Would an extension of Article 50 be useful?
  • What are the implications of the EU’s failure to recognise UK trading venues as equivalent? Are there any risks of serious disruption?
  • The FCA has recently agreed Memoranda of Understanding (MoUs) with ESMA and other EU regulators. Are these sufficient or are further agreements needed to facilitate cooperation with EU regulators?
  • What would the consequences be for firms supervised by the FCA if the UK was not granted data adequacy by the EU? What measures could be taken to mitigate these risks if they crystallise?

Further information

Image: PA

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