The UK Financial Conduct Authority (FCA) has opened the window for applications for the temporary permissions regime (TPR).
The TPR will allow EEA-based firms currently passported into the UK to continue their activities within the scope of their current authorisation in the UK after the Brexit and until a final regime will be in place. In the same vein, it will also allow EEA-domiciled investment funds to continue marketing their units in the UK after the Brexit.
The notification window opens Monday, January the 7th and will close Thursday, March the 28th 2019 EOB.
The procedure is the following (extract from FCA website):
- notify the FCA about your wish, as firm, to enter the temporary permissions regime using the FCA Connect system
- notify the FCA about which of your passported funds you wish to continue to market in the UK temporarily via Connect.
Please be informed that the application for TPR is mandatory; if you do not apply before March the 28th, 2019, your authorisations (firms and funds) may be cancelled after the Brexit in the event of a no-deal.
Feel free to contact us should you require any additional information via your representative, account manager, by email at info@fundglobam.com or through the contact form on this website.