On 5 February 2018, Andrew Bailey, FCA Chief Executive, delivered a speech, the Future of the City, which focuses on the transition to Brexit and the future of the UK regulatory regime.
Key highlights include:
- the FCA is treating Brexit as a high priority and the FCA will do its utmost to ensure that it works in the interest of the public;
- there is a range of operational interests which, if not resolved, will create financial stability risks and issues for the UK and EU; and
- the FCA is working with the Government to take action to ensure that the UK has a functioning regulatory regime from day one by implementing the EU withdrawal bill.