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Latest FCA Policy Statement on BREXIT
Compliance

The FCA has today (5 March 2019) published PS19/5 comprising feedback on all previous consultation papers in relation to the UK leaving the EU.

We will be analysing this in the near future and will write further if appropriate.

Meantime, here is the FCA’s update release from today:

“We have published our Brexit Policy statement, which responds to these consultation papers:

  • CP18/28 and CP18/36 on proposed changes to the Handbook and BTS
  • CP18/29 on a temporary permissions regime for inbound firms and funds
  • CP19/2 on Brexit and contractual continuity
  • CP18/34 on regulatory fees and levies (regarding question 10 on firms in the temporary permissions regime contributing to the devolved authorities’ debt advice levy)

We have also set out more detail of how we intend to use the temporary transitional power.”

You can access the policy statement and information on the temporary transitional power on our website: https://www.fca.org.uk/publications/policy-statements/ps19-5-brexit-policy-statement

You may also be interested in reading the press release: https://www.fca.org.uk/news/press-releases/fca-confirms-proposals-event-no-deal-brexit

Don’t forget to check Our View about this article and the Actions Required By You

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Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

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Our View

We will be analysing the policy statement and will write further as required.

Action Required By You

For information and action as required.

About the Author

Alistair MacDougall

Alistair MacDougall

Technical Manager - Often referred to as the Oracle or the Sage, Alistair has a wealth of financial services experience. He is our go-to Technical Manager and enjoys nothing more than a complicated conundrum. Feel free to test his renowned knowledge by getting in touch.

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2019 FCA Update
Compliance

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