Brexit and foreign exchange – the consequences

What would Britain leaving the EU mean for FX?

Richard Metcalfe, previously director of regulatory affairs at the UK's Investment Association

With little fanfare and even less comment, the UK's Financial Conduct Authority (FCA) launched a foreign exchange policy team late last year. So what? Well, think very carefully about what this implies for market regulation – in FX itself, but also more widely – irrespective of whether Britain decides to leave the European Union.

The only possible conclusion is simple: those 'leavers' who argue a Britain outside of the EU would be able to set its own – by which they mean light-touch – regulation

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services -, or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: