On 11 September 2018, the FCA published a speech delivered by its Chief Executive, Andrew Bailey, at the FCA’s annual public meeting. Key points to note include:

  • the FCA is working with the Government on the EU Withdrawal legislation to ensure the continuity of the financial services’ regulatory framework after Brexit;
  • the FCA remains guided in its work on Brexit by the five principles set out in Andrew Bailey’s letter of 28 October 2016, which seek to ensure that Brexit work delivers:
    • cross border market access;
    • support for the principle of consistent global standards;
    • cooperation between regulatory authorities;
    • influence over international standards; and
    • opportunities to recruit and maintain a skilled workforce.
  • with the entering into force of the Office for Professional Body Anti-Money Laundering Supervision, the FCA continues to restrict opportunities for financial crime; and
  • the FCA is working closely with the Treasury and the Bank of England to assess and respond to issues relating to technological innovation in financial services (e.g. cryptoassets).