On 26 March 2019, the FCA published its March regulation round-up. The regulation round-up summarises recent and ongoing work the FCA is conducting over a variety of areas. Amongst other things, the FCA notes that it will not switch over its IT systems to replace the European Securities and Markets Authority’s MiFID systems on the weekend of 30-31 March 2019. This is in line with the recent extension of the Article 50 process. This includes the planned switchover to FCA FIRDS and FCA FITRS.
The planned switchover, in the event of a no-deal exit, is now scheduled to take place on the weekend of 13-14 April with a go-live date of Monday 15 April 2019. Firms should continue to report to the FCA as they currently do until 11pm on Friday 12 April.