The FCA has reopened the notifications window for its temporary permissions regime (TPR). EEA firms and fund managers wishing to use the TPR should notify the FCA by the end of 30 December 2020.
On 9 July 2020, the European Commission published a Communication to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions entitled “Getting ready for changes: Communication on readiness at the end of the transition period between the European Union and the United Kingdom”. The Communication aims to highlight the main areas of inevitable change and to facilitate readiness and preparations by stakeholders, especially in light of the Commission’s views that “[n]egotiations so far have shown little progress” and that “broad and far-reaching changes … will arise under any scenario”. The Communication raises some key points for UK financial services firms, which we highlight in our post.
Despite August being the height of the holiday season, central bankers at the ECB have found the time to issue a newsletter calling on banks supervised under the Single Supervisory Mechanism to step up their Brexit preparations.
Weighing an uncertain outcome, Luxembourg adopts two bills ensuring the financial stability of the financial sector.
Baker McKenzie experts outline what financial services business should expect and how to mitigate the effects of a no-deal Brexit scenario.
Planned measures, and likely outcomes for the banking, insurance, and financial services sectors in the absence of trade agreements.