UK watchdog tells markets: be ready in case of no-deal Brexit

LONDON (Reuters) – Financial firms in Britain should be ready in case there is no trade deal with the European Union by December, a senior UK regulator said on Thursday.

Britain leaves the bloc next week, followed by a “business as usual” transition period that ends in December. Britain and the EU will formally begin trade talks in coming weeks.

“Firms still need to ensure they are prepared for a range of scenarios that may happen at the end of 2020,” said Nausicaa Delfas, head of international at the Financial Conduct Authority.

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