ESMA and EU Securities Regulators agree no-deal Brexit MoUs with FCA

Pan-European regulator European Securities and Markets Authority (ESMA) and EU securities regulators have agreed memoranda of understanding (MoU) with the Financial Conduct Authority (FCA). This will secure post-Brexit portfolio management delegation for UK asset managers. The MoUs form part of authorities’ preparations should the UK leave the EU without a withdrawal agreement, the no-deal Brexit scenario. The MoUs will therefore only take effect in the event of a no-deal Brexit scenario. Click here for more information.