Bracing for Data Disruption in a No-Deal Brexit Scenario
In February, UK and EU regulators made announcements expected to shed light on the future of data sharing and alleviate some uncertainty post-Brexit, but industry experts say the latest statements fall short of lifting the real burden on affected firms.
European regulators are issuing clarifications on data sharing as Brexit’s March 29 deadline draws closer, but there are still deep concerns, should the UK exit the EU in a no-deal scenario.
On February 5, the European Securities and Markets Authority (Esma) announced that should the UK leave the EU without an agreement in place, the UK’s Financial Conduct Authority (FCA) would stop sending data to Esma and would no longer have access to Esma’s IT applications and databases. That means Esma
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