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Responding to the FCA's rules that will apply at the end of the transition period, Conor Lawlor, UK Finance Director, Brexit; Capital Markets & Wholesale said:
Clear guidance is vital for firms to better understand their requirements and obligations from January 1 2021. Today's update from the FCA sets out how these rules will apply at the end of the transition period. The regulator also acknowledges the scale, complexity and magnitude of some of the changes in relation to key requirements, reiterating its intention to act proportionately towards firms.
<ol><li>For more information please call the UK Finance Press Office on 020 7416 6750 or e-mail <a href="mailto:press@ukfinance.org.uk">press@ukfinance.org.uk</a>.</li> <li>UK Finance is the collective voice for the banking and finance industry. Representing more than 250 firms across the industry, we act to enhance competitiveness, support customers and facilitate innovation.</li> </ol>
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