“Since they are no longer bound by EU rules, British FX and CFD firms could see the FCA loosen some restrictions and even possibly reintroduce 1:100 leverage for retail clients” says FXOpen’s Natalia Zakharova
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FX brokers: Europe needs Britain, it is not the other way round, therefore there is no need to worry about any post-Brexit propaganda from European regulators and commentators. It is all hogwash. You can remain confident that FCA regulation and a London base will still be the way to prosper.
Who would you rather was overseeing the financial sector and its opportunities? A Brussels-based socialist who is a card carrying member of a workers union or the chairman of an IT Support company who runs a development ground for financial technology businesses?
This morning’s viewpoints by financial sector leaders go hand in hand with our analysis that the last thing London’s trading sector needs is any form of deal with Europe. Bungling Boris Johnson may have slipped up, but this particular oversight could be advantageous.
French regulator demonstrates sour grapes and a very unusual view on post-Brexit electronic trading. What are they talking about?
A corporate think tank has told us what is patently clear – that the UK will excel even further in electronic trading and financial services post Brexit.
On January 1, 2021, once the UK’s transition period ends, financial market participants whose activity might be impacted should have fully implemented their preparatory measures.
FCA to reopen temporary permission notification window as end of Brexit transition period approaches
The temporary permission regime will allow EEA firms to continue providing services and EEA funds to continue to be marketed in the UK once passporting ends.
Whereas the UK regulator has put in place transitional regimes for EEA firms, the situation for UK firms in the EU is not the same, says Nausicaa Delfas, FCA’s Executive Director of International.
By virtue of the withdrawal agreement, EU law will continue to apply to the UK, as if it were a Member State, during the transition period from February 1, 2020 to December 31, 2020.
During the implementation period, due to last until December 31, 2020, EU law will continue to apply.
The move reflects the extension of the expiry date of the Implementing Decision (EU) 2018/2031 of the European Commission on the equivalence of the UK CCP legal framework.
The UK regulator will be extending the date by which firms and funds should notify it for entry into TPR to January 30, 2020.
EEA passporting firms are urged to notify the FCA by October 30th about their Temporary Permissions Regime plans.
The changes in relation to rules covering binary options and CFDs reflect the assumption that UK firms will lose passporting rights after exit day.
John Glen, Economic Secretary to the Treasury, faces questions about how UK banks would fulfill their obligations under the EU Payment Accounts Directive post-Brexit.
Notifications to the FCA have to be made and received not later than the end of October 30, 2019.
FCA CEO says “Left to our own devices, the UK would construct financial conduct regulation in a rather different way” as the scourge of socialism is jetisoned and FX can flourish
Will the chief of the FCA become governor of the Bank of England? Nonsense Brexit smokescreen aside, here is what may happen
