EEA Firms in the TPR: Have you Received your Landing Slot to Apply for Full Authorisation in the UK?

Author

Martin Lovick

Publish Date

Type

Compliance Alert

Topics

  • Brexit
  • FCA
  • Compliance

In the run-up to the UK leaving the European Union, the FCA introduced the Temporary Permissions Regime (TPR) for EEA firms who had previously been allowed to offer their investment services in the UK under the passporting regime, without the need for FCA authorisation.  

Who is eligible? 

Firms who signed up to the TPR may continue to offer these services for a temporary period, pending the FCA inviting them to apply for full authorisation (known as a “landing slot”). TPR was a one-off opportunity – it is now too late to join, having closed with the end of transitional Brexit phase on 31 December 2020. 

The FCA is now starting to contact firms in the TPR on the timing of their landing slot. Firms are required to submit their applications during a three-month window, with the first landing slot starting in July 2021 and the subsequent five slots running each quarter thereafter. The FCA has indicated all firms will receive their landing slots by the end of 2022. 

This process can be complicated and time consuming.  

Download our guidance sheet, where we examine:  

  • How to get your landing slot  
  • How the landing slots will work 
  • What to expect from the FCA application process 
  • What to do if you didn’t sign up for the TPR and so won’t get a landing slot

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How we help

In addition to our FCA Authorisation and Support for EEA Firms solution, we have a wide range of Brexit solutions designed to help global firms find solutions to overcome their Brexit challenges and continue to access the UK markets.

These include: