ClearBank and Brexit
In preparation for this, ClearBank®has undertaken a review of the potential impacts, including if there is a ‘no-deal’ Brexit and the potential instability as a result of uncertainty surrounding the exit by the UK from the EU. As a UK focused Sterling clearing bank the impacts to us are minimal and do not impact the services which we provide to customers. ClearBank continues to monitor the ongoing political situation.
For regulated firms based within the EU and trading within the UK, the Financial Conduct Authority has implemented transitional arrangements, details of which can be found at https://www.fca.org.uk/news/news-stories/notification-window-temporary-permissions-regime-now-open. It is recommended that any EU based firm refers to these arrangements to ensure they are able to continue to undertake regulated business within the UK after the UK leaves the EU.