'Too early' to know Brexit's effect on financial services - FCA

'Need to wait' for outcome of UK's negotiations with EU

Tom Ellis
clock • 1 min read

It is still too early to speculate on the effects Brexit will have on the UK's financial services sector, according to FCA director for competition Deb Jones.

Speaking to an audience of advisers at today's Financial Services Expo in London, Jones said: "The [EU] referendum outcome naturally has ramifications for financial services across the UK. But it's still too early for me to speculate on the extent [of its consequences]." Despite the uncertainty surrounding Brexit, Jones reiterated the FCA's stance that it is still 'business as usual' for firms, adding: "Three things are apparent - first, firms must continue to abide by their obligations under UK law - including those derived from EU law - and they should continue with implementation plan...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

FOS fees could fall if cases resolved early

FOS fees could fall if cases resolved early

Consultation seeking to modernise charges

Jenna Brown
clock 13 August 2025 • 2 min read
Consumer Duty two years on: Challenges remain for advisers

Consumer Duty two years on: Challenges remain for advisers

‘Biggest challenge for advisers at the moment'

Sahar Nazir
clock 31 July 2025 • 4 min read
FCA and FOS reveal reforms as part of redress 'modernisation'

FCA and FOS reveal reforms as part of redress 'modernisation'

Follows joint call for input and government proposals

Isabel Baxter
clock 15 July 2025 • 3 min read