FCA prioritises Brexit in 'challenging year'

Budgets for £30m Brexit spend

The Financial Conduct Authority (FCA) has revealed the escalating cost of Brexit it faces, as it prioritises its role in preparations for the UK's departure from the European Union, amid a "challenging year" for the regulator.

In its business plan for 2018/2019, published today (9 April), the FCA said it has carved out an additional £16m from its budget to fund its Brexit work alongside its normal responsibilities, bringing the total spend to £30m and leaving regulated firms with a £6m bill. Richard Buxton's countdown to Brexit: One year to go...