Menu
Preparing for BREXIT

There might be a deal. There might not be. Either way, the FCA has done quite a lot of work in preparation for BREXIT and you can access that information here.

The information includes a guide for firms in preparing for BREXIT.

The FCA has made arrangements for non-UK firms to continue operating post-BREXIT. Unfortunately, to date, the EU has not reciprocated and UK firms that currently passport services into an EU or EEA country, or who wish to do so, 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 at the end of March 2019. 

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.

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

Preparing for BREXIT

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.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

Alongside all the political high drama surrounding BREXIT, life goes on. Firms should refer to the FCA guidance to identify any action that is required. Firms that only do business with retail clients based in the UK are unlikely to see much change in the short term. But firms currently passporting services into the EU/EEA need to act soon to identify what the relevant EU/EEA regulators require for those activities to continue.

Action Required By You

  • Review the FCA BREXIT information to identify how your firm is affected;
  • If required, contact the relevant EU/EEA regulators to ensure that services provided in EU/EEA countries can continue;
  • Speak to your ATEB consultant for more assistance, or contact ATEB.
SUIT - Beautiful Reports
CREATE BEAUTIFUL
SUITABILITY
REPORTS
TRY IT FOR FREE
SUIT - Complete Control
TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION
TRY IT FOR FREE
SUIT - Comp confidence
SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE
TRY IT FOR FREE
previous arrow
next arrow

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in

Sometimes you just have to look up.

FCA Covid-19 Survey #5

Compliance , , , , , ,

The FCA has advised; Many of you will be aware that we issued the first phase of the Covid-19 Impact Survey in June 2020, covering around 13,000 firms across 15 Supervision portfolios (Tranche 1), and then rolled this out to a further 9,500 firms in 21 portfolios (Tranche 2) at the beginning of August 2020. […]

Read More
Positive woman working on laptop and taking notes

Qualification requirements for Pension Transfer Specialists

Compliance , , ,

PS18/20 introduced rules to raise qualification levels for pension transfer specialists (PTSs) to require them to obtain the same qualification as an investment adviser, alongside the existing PTS qualification. The implementation of these rules was delayed by a year due to coronavirus, but will come into force from 1 October 2021. Any PTSs who are […]

Read More
Man people desk laptop

FCA videos – Financial Promotions and Consumer Vulnerability

Compliance

Financial Promotions Case Studies The FCA has produced two short videos of the various products it regulates, and the common mistakes firms make while promoting their products. The videos illustrate the FCA’s expectation and highlight the need for promotions to be clear, fair and not misleading regardless of the media used. These videos, as well […]

Read More
Banking business checklist commerce

GI – Pricing Practices Survey

Compliance ,

The FCA will shortly be asking a sample of Insurers, Price Comparison Websites and Insurance Intermediaries to complete a short survey to assess their preparedness for the introduction of the new rules on general insurance pricing practices as outlined in the recent Policy Statement. The survey will be sent to firms on 16 July 2021 […]

Read More
Product Enhancements

Template Enhancements including ‘Risk Warning’ & Power of Attorney Changes

Suitability , , ,

We completed the latest upgrade to ATEB Suitability on 15th July 2021. This update comes at no additional cost and provides provides a few minor minor tweaks to our main Suitability Report template. Full details of the enhancements can be found below: Risk Warning Report Introduction Text For each of the risk warning sections within […]

Read More
Load More