Brexit disrupts FCA fact finding mission

Brexit disrupts FCA fact finding mission

The UK's Financial Conduct Authority (FCA) has suspended a consultation on accessing and using data in wholesale markets in order to let firms concentrate on preparing for Brexit.

The watchdog was planning a Call For Input (CFI) on how firms' ability to gather and analyse data has recently grown tremendously in scope and in speed, creating benefits but also potentially bringing risks.

However, in a statement, the FCA says it is "mindful of the resources that stakeholders, who would ordinarily respond to the CFI, are dedicating to preparing for and implementing the change resulting from the UK’s exit from the European Union."

Therefore, it is postponing the CFI to allow firms to "focus more time on EU Withdrawal" but remains "committed to launching work in this area in the future".

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