FCA hires extra staff to cope with Brexit workload

‘Deadlines are obviously tight’

The Financial Conduct Authority (FCA) has hired additional general and legal staff ahead of what chief executive Andrew Bailey called a 'tight' Brexit deadline.

Bailey (pictured) said the the associated repeal legislation had proved the most work, prompting the regulator to hire extra general and legal staff to go through "thousands of pages of EU legislation and rules to work out how they can operate in future in the UK". "This is something we are very actively involved in," he said. "Deadlines are obviously tight and work is well underway." As it stands, the UK and European Union have until the end of March 2019 to come to a formal agreement on the terms of Brexit. According to its annual report, which was published alongside the meeting, t...