FCA defends request for 'unprecedented powers'

Statutory instruments to be enforced from 29 March

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The FCA and PRA were endowed with discretionary power over regulation for up to two years
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The FCA and PRA were endowed with discretionary power over regulation for up to two years

How have regulators been preparing for Brexit?

The UK's key financial services regulators have defended their demands for "unprecedented" new powers, which they would use to "fix an emergency" in the event of a no-deal Brexit. Last week, chief executive of the Financial Conduct Authority (FCA) Andrew Bailey, economic secretary to the Treasury John Glen and deputy governor of the Prudential Regulation Authority Sam Woods faced questions from chair of the Treasury Select Committee Nicky Morgan, who warned the regulators' demands could create...

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