Andrew Bailey, chief executive of the Financial Conduct Authority, in a recent speech spoke about the importance of a transitional period for the financial services industry concerning Brexit. A key issue, he said, is the need for continuing authorisation for firms that are undertaking cross-border business between the United Kingdom.

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Jaclyn Jaeger is a freelance contributor to Compliance Week after working for the company for 15 years. She writes on a wide variety of topics, including ethics and compliance, risk management, legal,...