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FCA cuts French bank off from UK after missing Brexit window

Lyonnaise de Banque becomes the first to have their licence revoked after the UK's split with the EU

Lyonnaise de Banque has been banned from operating in the UK by the FCA after it missed its chance to apply for post-Brexit authorisation
Lyonnaise de Banque has been banned from operating in the UK by the FCA after it missed its chance to apply for post-Brexit authorisation Photo: Mike Booth/Alamy

The Financial Conduct Authority has banned a French bank from operating in the UK after it missed its chance to apply for post-Brexit authorisation.

Lyonnaise de Banque missed its so-called "landing slot" under the temporary permissions regime introduced by the regulator in the wake of the EU split, according to a 21 December statement, becoming the first firm to be barred from doing UK business as a result.

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