UK:
Brexit And Access To UK Financial Markets By EU27 Firms
13 August 2018
Fieldfisher
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The UK is proposing new legislation to mitigate the impact on
EU27 regulated firms arising from a "no deal" scenario in
March 2019.
EU27 firms currently utilising a passport in order to carry out
business in the UK, either on a cross border basis or through the
establishment of a branch, will be able to take advantage of a
temporary UK permission that will avert the need for a full UK
authorisation for a limited period.
An alternative route is to explore whether regulated activities
are being carried out in the UK and the availability of exemptions
from UK authorisation.
This briefing analyses the proposed temporary permissions regime
and certain territorial factors relating to where activities are
deemed to be carried out from a UK perspective.
It also includes an in-depth analysis of the overseas persons
exclusion, which provides a potentially very useful basis for
principally broker-dealer businesses to continue to access UK
wholesale markets on a cross border basis.
Download the full briefing below:
Brexit and access to UK financial markets
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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