Some UK banks and brokers appear unprepared for Brexit

Broker Discussion
1

For UK brokers who have operations in the EU, the schnitzel is about to hit the fan.

Time is running out to deal with the rapidly-approaching UK/EU reality.

Finance Magnates article –

https://www.financemagnates.com/forex/brokers/forexbrokerseuropean-authorities-urge-financial-firms-keep-planning-brexit-2019/

Excerpt –

"For companies that are holding only a single operating license in the EU, time is running out fast. Retail brokerages in the forex industry are facing an increasingly difficult time amid the new regulatory requirements that are still not finalized by the ESMA.

“At the same time, thousands of firms located in London that have operations both in the UK and in the EU27 need to expedite their plans for access to the single market. Basing their assumptions on a Brexit date in March 2019 seems like a reasonable course of action right now.”

2

It’s precisely this domineering attitude from the Beaurocrats of Brussels, which promped us to tell them where to stick their “compliance dogma” - in the Referendum - in the first place ! :laughing: