EEA firms lag UK groups in Brexit planning: Woods

An expected flood of authorisation applications from European
Economic Area (EEA) financial services firms passporting into the
UK will prove challenging for the Prudential Regulation Authority
(PRA), Bank of England Deputy Governor Sam Woods has warned.
In a speech at Mansion House yesterday, Woods, who is also CEO
of the PRA, said the regulator received more than 400 submissions
in response to its request for financial services companies to
share their Brexit contingency plans by mid-July.
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