Whilst we recognise the challenges that firms face when making preparations for Brexit, the only way to minimise disruption is for firms and regulatory authorities to work together to consider and take all necessary mitigating actions in a timely fashion.
Brexit is also driving an expansion in both the size and complexity of the internationally orientated section of the Irish financial services sector: even under ‘soft’ Brexit scenarios, the UK and EU27 will constitute separate financial systems. We have received more than 100 Brexit-related applications for authorisation, across a number of sectors.