ESMA and EU securities regulators agree no-deal Brexit MoUs with FCA

Securities Markets Regulation

Date: 04 February 2019

On 1 February, the European Securities and Markets Authority (ESMA) and European securities regulators agreed Memoranda of Understanding (MoUs) with the Financial Conduct Authority (FCA) of the United Kingdom (UK).

The MoUs form part of authorities’ preparations for a no-deal Brexit scenario, and will only take effect in the event of a no-deal Brexit. The MoUs are similar to those already concluded on the exchange of information with many third country supervisory authorities.