The Financial Conduct Authority (FCA) has warned businesses that they still need to get act together when it comes to Brexit, despite COVID-19.
Speaking at a webinar hosted by Deloitte, Nausicaa Delfas, executive director of international at the FCA, said that at the moment there has been no indication to suggest that the UK won’t leave the EU on December 31 this year, despite both parties of the negotiations being forced to deal with the coronavirus pandemic.
“[Firms] should continue to consider what actions they need to take to be ready for the end of the transition period, and what this will mean for their customers,” Delfas said.
She also highlighted that the FCA has so far put in place temporary regimes so that firms from the EEA can still trade and have access to UK markets at the end of the transition period, laid 62 statutory instrument and published 1,808 pages of rules in order to onshore EU rules into UK rules.
It did not that the EU has not put in place transitional regimes for UK firms trading in the EEA.
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