FCA Business Plan – transcript of press conference

On 16 April 2018, the FCA published a transcript of the press conference that took place to mark the launch of its Business Plan for 2018-19. An extract from one of the Brexit related questions and the FCA’s answer is set out below: Huw Jones (Reuters): I’ve a question on Brexit. Last month, you and the PRA came out with a statement saying ‘take comfort from the transition deal, carry on with your business as normal from next March’. So far, it’s been pretty much radio silence from the EU side, although we had Valdis Dombrovskis today saying, ‘Certainty on transition will come only with ratification on both sides of the transition deal’. That is, implying that you can’t really rely until October or later. Are you concerned about this and the effect on financial stability, the effect on firms preparing for Brexit? Andrew Bailey: That’s a very good question. We’re very aware of the EU’s position on this. I was in…

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