EU, UK Push No-Deal Brexit Planning For Financial Sector

Law360, London (October 8, 2019, 3:26 PM BST) -- European Union and British authorities on Tuesday ramped up preparations for their financial sectors to weather the U.K.'s exit from the EU without a deal or regulatory transitional period, urging close contact with regulators.

The British government and the European Banking Authority have published guidance aimed at ensuring that financial institutions on both sides of the Channel will function seamlessly if Britain crashes out of the bloc without a deal on Oct. 31.

The prospect of a “hard” Brexit seems more likely than ever as Prime Minister Boris Johnson continues to rub EU leaders the wrong way after failing to make...

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