FCA devotes more than 300,000 man-hours to Brexit

UK missed today's Brexit 'deadline'

The number of man-hours the Financial Conduct Authority (FCA) has dedicated to Brexit has gone well past the 300,000 mark, Investment Week's sister title Professional Adviser has learned.

A freedom of information (FOI) request submitted by PA found that, since April 2017, when it first sought funds from the industry for Brexit, through to the end of February this year, the FCA spent 316,000 hours on Brexit activity. Between April 2017 and March 2018, 72,000 hours were dedicated to Brexit. Then, from April 2018 to February 2019, a further 244,000 hours were spent preparing to leave the European Union (EU). A previous PA FOI request on Brexit in November 2018 revealed the FCA had spent 175,000 hours on Brexit up to that point, meaning the financial watchdog has dedicated...