- Startups
- November 15, 2018
Brexit Series Part 4 | No Deal Game Plan for Financial Services Firms
By Lawbite Team
- EEA firms that are pass-porting into the UK under FSMA.
- EEA electronic money and payment institutions and registered account information service providers pass-porting into the UK
- Managers of EEA-domiciled UCITS (Undertakings for Investments in Transferable Securities) that market those funds in the UK
- Managers of EEA-domiciled investment funds (AIFs), including European Venture Capital Funds (EuVECAs), European Social Entrepreneurship Funds (EuSEFs), European Long-Term Investment Funds (ELTIFs)
- EEA financial services firms will before 29 March 2019 need to notify the relevant regulator of their wish to be treated as if they have permission to carry on the relevant regulated activities in the UK on a temporary basis while in the TPR.
- Proposed amendments in the consultation papers will apply to the relevant FCA Handbooks particularly in relation to EU-derived provisions which will be incorporated into UK law so that they function effectively after exit day. Firms will need to comply with these during the TPR phase.

In closing
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