Irish regulator: Many financial firms still aren't prepared for Brexit

Bloomberg reports comments from the Irish Central Bank Deputy Governor Ed Sibley, delivered in an interview late-Monday.

Key Points:

Sibley warned that many financial firms remain unprepared for Britain’s exit from the European Union as the two sides remain at odds on their future relationship.

“There’s a full spectrum of preparedness.”  

“From the get-go, we have some firms who have been very comprehensive in working on contingencies. And we’ve had some who have their heads in the sand.”

The regulator is “seeing a very significant step up in the level of applications we have compared with a normal year.”

“We see a high degree of interest in potential relocations across all sectors.”

“Brexit-related authorizations still dominate a lot of our work.”


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