The Financial Conduct Authority (FCA) has revealed the escalating cost of Brexit it faces, as it prioritises its role in preparations for the UK's departure from the European Union, amid a "challenging year" for the regulator.
In its business plan for 2018/2019, published today (9 April), the FCA said it has carved out an additional £16m from its budget to fund its Brexit work alongside its normal responsibilities, bringing the total spend to £30m and leaving regulated firms with a £6m bill. Richard Buxton's countdown to Brexit: One year to go...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
