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ESMA update on Brexit preparations

The European Securities and Markets Authority (ESMA) wants to inform stakeholders that, following the European Council’s decision yesterday extending the period under Article 50(3) relating to the United Kingdom’s (UK) withdrawal from the European Union (EU), its previous statements relating to its preparations for a no-deal Brexit will no longer apply as of 31 October. 

The reference date for Brexit in all of ESMA’s previously published measures and actions, including public statements, issued regarding the possibility of a no-deal Brexit scenario, should now be read as 31 January 2020.

However, given the nature of the current extension ESMA will issue further announcements and updated measures as matters develop.

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