The Financial Conduct Authority (FCA) warned Thursday (March 21) that a no-deal Brexit poses risks to the financial sector and the customers these firms serve, a news outlet has reported. According to a report in the Financial Times, citing the FCA, the U.K. regulatory watchdog...
It wound up being no deal for a no-deal Brexit. As widely reported this week, the U.K. Parliament gave a thumbs down, on Tuesday (March 12), to a Brexit-with-a-deal, which Prime Minister Theresa May helped negotiate with the European Union (EU). A second “no” said...
In a new warning about the U.K. leaving the European Union without a deal, Chancellor of the Exchequer Philip Hammond said people will be worse off if that happens. According to a report in Bloomberg, Hammond said Parliament’s move to reject Prime Minister Theresa May’s...
British Prime Minister Theresa May has delayed a vote in Parliament on her Brexit deal. “We won’t bring a meaningful vote to parliament this week, but we will ensure that that happens by the 12th of March,” May told reporters, according to Reuters. “It is...
The U.K. continues to prepare for the possibility of a no-deal Brexit by making sure its clearing houses and customs procedures can still do business without interruption. The Bank of England and the European Securities and Markets Authority (ESMA) announced that they are teaming up...
The pre-Brexit decline in the U.K. economy is showing further signs as lending to consumers in the country increased at the slowest pace in close to four years. Reuters, citing the Bank of England data, reported the growth rate for unsecured consumer lending increased 7.1...
Payment providers in the U.K. are not fully prepared for the chance of a no-deal Brexit, warned the European Banking Authority late last week. According to a report in Reuters citing the European Union’s watchdog for the payments industry, the regulator said in its Risk Assessment...
A critical vote on Brexit has been delayed in Britain’s parliament. What happens next is anyone’s guess, and might even include the exit of Brexit (though unlikely). Here’s a look at the various scenarios and the ways that financial services may be impacted – or...
Although a Brexit deal is in the works, three companies have backed out of a potential £2.9 billion buyout of mall landlord Intu due to concerns about the U.K.’s impending exit from the European Union. According to the Financial Times, Peel Group, Brookfield and the Saudi group...
