BoE sets out post-Brexit supervision plans

Bank of England
The BoE will be responsible for supervising branches of EU-headquartered financial firms from 2019
Daniel Hinge

The Bank of England has set out how it plans to grant authorisations to banks and insurers post-Brexit, offering some clarity on what future supervisory relationships may be.

Currently, branches of EU-headquartered banks and insurers operating in the UK are supervised by home authorities. Post-Brexit, firms will need to apply for authorisation from the BoE’s Prudential Regulation Authority, which will become their new supervisor.

The key points, set out in a series of documents today (December

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