There might be a deal. There might not be. It might happen at the end of October – or it might not! Either way, the FCA has prepared information to help firms prepare. You can access that information here.
Passporting
The FCA has made transitional arrangements for non-UK firms to continue operating in the UK post-BREXIT. Unfortunately, to date, the EU has not reciprocated and UK firms that wish to do operate in the EU/EEA post-BREXIT will need to contact the relevant regulator in the countries where services are provided to identify what is required to be able to provide those services after BREXIT.
The EU/EEA countries are Austria, Belgium, Bulgaria, Croatia, Cyprus (Republic of), Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden.
Details of all regulators in the EU/EEA can be found here.
A list of dedicated Brexit websites hosted by financial regulators in EEA Member States is available on the FCA website. The FCA has drawn particular attention to the Luxembourg transitional regime for existing contracts where firms must register by 15 September 2019.
FG 21/3 – client objectives
Alistair MacDougall Compliance Drawdown, FCA, ML, Pension, Pension Transfer, PI, transfer
Following on from our previous articles on FG21/3, we will look today at another of the interesting areas covered by the guidance. It goes without saying that the guidance itself is helpful, reiterating and emphasising previous rules and guidance and clarifying some areas that were arguably fuzzy before. However, as well as the actual content, […]