fscom News and Events

Brexit: Temporary Permissions Regime for EEA firms

[fa icon='calendar'] 19-Mar-2019 20:15:43 / by James Borley posted in FCA, Payment services, BREXIT, authorisation, passporting, TPR

[fa icon="comment"] 0 Comments

At the time of writing there are 10 days to go until the date (currently) written in UK and EU law on which the UK is scheduled to leave the European Union on March 29, 2019 – Brexit Day.

In anticipation of a ‘no deal’ Brexit, HM Treasury has enabled the FCA (and PRA) to create a Temporary Permissions Regime (TPR) whereby, at its simplest, EEA firms can effectively ‘grandfather’ their passports for a limited period beyond Brexit Day. 

This blog seeks both to remind EEA firms of the TPR, and the need and method to enter it, prior to Brexit Day (assuming that the current timetable remains), but also to highlight a couple of pitfalls for payments and e-money firms should they leave such notification to the very last moment.

Read More [fa icon="long-arrow-right"]

Subscribe to Email Updates

Recent Posts