UK regulators count cost of Brexit work
PRA and FCA devote additional resources to handling UK’s withdrawal from EU
The UK’s two main financial regulators are both upping resources allocated to work on Brexit, as the process of leaving the European Union enters its final year.
The Prudential Regulation Authority (PRA) is budgeting for £8.3 million ($11.7 million) in costs relating to the EU withdrawal this year, an increase of 54% on last year. The Financial Conduct Authority (FCA) expects to spend £5 million, a 100% increase.
Both regulators unveiled their annual “business plans” today (April 9), setting
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