The recent onslaught of EU regulatory compliance deadlines is stalling Brexit planning for small payment firms as the clock ticks closer to the UK’s departure from the European Union, experts have said.
Last week the European Commission issued a gentle reminder to banking, payment and e-money service providers of the legal repercussions they should consider when the UK becomes a third country in the eyes of European legislation.
Echoing statements from HM Treasury, the Financial Conduct Authority and other UK regulators, it reiterated the consequences of the UK’s withdrawal from the union, starting with authorisation.
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