BoE’s Woods: firms favour ‘transitional’ Brexit period

sam-woods
Woods says firms will need time to adapt to agreements made following Brexit

The head of the UK's micro-prudential regulator has urged the government to consider giving firms the time to "transition" to whatever new arrangement is agreed upon between the UK and the European Union after Brexit.

Appearing before the UK parliament's Treasury Select Committee today (December 14), the Bank of England's (BoE) Prudential Regulation Authority (PRA) chief Sam Woods was asked what should be done regarding the financial service industry as the UK prepares to exit the EU.

"Without

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