The UK will officially leave the European Union tomorrow, 31st of January 2020 at 11PM. An implementation period will start from tomorrow 11PM until the 31st of December 2020.
EU Law will continue to apply during this implementation period allowing EU/EEA firms to benefit from European passports between UK and the EU.
The FCA Temporary Permissions Regime (TPR) notification process will close today, 30th of January EOB.
The EU/EEA funds and firms registered into the TPR will continue to benefit from the Temporary Marketing Permissions Regime (TMPR) during the implementation period; no further action is to be taken at this stage.
The FCA will further communicate its plan/procedure to reopen a notification windows during the implementation period.
UK FCA, British government and Bank of England will negotiate with EU authorities and prepare the future investment fund industry framework.
The FCA’s statement is available on FCA website.
We will keep you informed about any further developments,
FundGlobam will be happy to assist you should you require any further information.