trending Market Intelligence /marketintelligence/en/news-insights/trending/p5Q7Z7vYPOuA9xkTEEZD3g2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In this list

More than 1,000 EU firms enter UK Temporary Permissions Regime for fund managers

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

Digital Banking Battles Will Play Out In Southeast Asias Shopping Cart

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive


More than 1,000 EU firms enter UK Temporary Permissions Regime for fund managers

More than 1,000 European companies and fund managers have entered the U.K.'s Temporary Permissions Regime to minimize disruption from a hard Brexit and ensure continued operations in Britain, Nausicaa Delfas, executive director of international at the U.K. Financial Conduct Authority, said in a speech March 21.

Currently, EU firms are authorized to carry out activities in the U.K. via a "passporting" regime.

The Temporary Permissions Regime is meant to work as a stopgap in case there is no implementation period, resulting in an abrupt end to the passporting regime when Britain leaves the bloc, scheduled to happen on March 29.

Delfas said the authority, or FCA, will apprise firms about their "landing slots" — when they need to submit their authorization applications — after the notification window closes on March 28, keeping in mind the time they will need to prepare their applications. She added that the first landing slots are expected between October and December and the last slots between January 2021 and March 2021.

However, there is no similar regime in place for U.K.-based firms that passport into the EU, and only a few EU member states — namely Germany, Spain, France, Ireland, Italy, Luxembourg and the Netherlands — have set up similar arrangements, Delfas said.

Delfas was addressing the 4th U.K. Financial Services Brexit Summit about the FCA's preparedness for Brexit, what companies are expecting from it and the implications of Britain's divorce from the bloc on consumers. She also highlighted the expected residual risks and what the FCA expects its future international relationships to be like post-Brexit.

The FCA has signed memoranda of understanding with European regulators, including national watchdogs, to ensure a high level of cooperation regardless of whether Brexit occurs with or without a deal.

"Our international engagement does not diminish with Brexit: in fact, it only increases with importance — now more than ever, it is vital that we have strong links with our international counterparts," Delfas said.