Deloitte Insights

Episode 22: How ready are banks for the end of the Brexit transition period?

Regulated Radio podcasts

In just three weeks, the transition period for the United Kingdom’s departure from the European Union will end. Banks are busy preparing for an important change in the terms of market access between the EU and the UK and regulators are working to ensure a smooth transition for the financial sector, both on 1 January and in the days that follow. In this episode, we speak to two of Deloitte’s banking and capital markets Brexit leaders, Vishal Vedi and Alex Szmigin, to get their take on the readiness of the banking sector for the end of the transition period and what they think banks should be doing now to make sure they are prepared. Join us as we delve into some of the most interesting issues in this fast evolving situation.

Key questions:

  • What in practice will change for banks when the transition period comes to an end on 1 January 2021?
  • What are the near and medium-term expectations that financial supervisors have for banks during this period of time?
  • How has COVID-19 affected the work that banks have been able to do to prepare for the end of the transition period?
  • What should banks’ priorities be in 2021 in light of Brexit and the regulatory change they will face?  


Vishal Vedi

Vishal is a Partner in Deloitte’s Risk Advisory Practice in London. He leads Deloitte’s Capital and Structural reform propositions and has more than 18 years’ experience in the financial services sector. Vishal is Deloitte’s EMEA leader for its Risk and Capital Management service line and he sits on the steering group of the Deloitte Centre for Regulatory Strategy.

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Alex Szmigin

Alex is a partner in Deloitte’s Risk Advisory practice. Alex is an ex banking regulator with over nine years of consulting experience, and is a chartered accountant. Alex has deep experience of banking prudential risk and regulation, as well as financial services market access rules. Since 2016, Alex has supported multiple banks in securing banking and investment firm licenses for new operations post-brexit, and co-leads our Brexit banking and capital markets business.

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Scott Martin
Senior Manager
EMEA Centre for Regulatory Strategy

Scott is a Senior Manager in the Centre for Regulatory Strategy advising on international banking regulation, with a particular focus on bank capital, strategy, cyber risk and public policy-making processes.

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