FCA warns of temporary permissions deadline as Brexit looms
There will be no change to EEA firms 'passporting' into the UK from tomorrow (31 January), but the temporary permissions regime will be used if the UK and EU fail to sign an agreement by 31 December 2020.
The Financial Conduct Authority (FCA) has reminded EEA firms that they have until later today (30 January) to apply for use of the temporary permissions regime (TPR).
Following the UK’s exit from the EU at 11pm tomorrow, there will be no immediate change to EEA firms ‘passporting’ into the UK.
However, if a deal is not agreed with the EU by 31 December 2020, those who have applied to the TPR will be given a ‘landing slot’ by the FCA to apply for full UK authorisation.
The FCA intends to
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