FCA anticipates passporting will continue after point of Brexit

In a statement this week, the FCA said the European Council had confirmed that sufficient progress had been made to move to the second phase of negotiations related to the Brexit transition and the framework for the future relationship between the UK and the European Union. "The FCA welcomes the progress that has been made and is supportive of open markets and free trade in financial services underpinned by strong regulatory standards," it said. Although it noted the final nature of any implementation period is yet to be agreed, the FCA anticipates firms will be able to continue to be...