Join ACA for a discussion on the UK transitional regimes, the FCA’s expectations of international firms operating in the UK, and the (FCA) authorisation process.
Now that the Brexit transition period has closed, many firms globally need to consider and even adapt their business models and regulatory registration arrangements to continue operating within both the UK and the EEA. This means:
- Understanding the EU/UK Trade and Cooperation Agreement and the medium-term for financial regulation in both areas
- European Economic Area (EEA)-based and third-country asset management firms need to consider how to maintain access to the UK market
- UK firms need to seek a replacement to passporting in order to continue to access EEA markets.
Brexit: What's Next for Financial Services Firms?
The lack of substantive rules addressing financial services in the EU-UK Trade and Cooperation Agreement creates some confusion and challenges for firms.
Our free whitepaper examines a range of scenarios for how firms with a UK- and/or EEA-based presence might structure their business in a post-Brexit world.
Whether you are submitting a full FCA license or a third-country branch application, our experienced authorisations team can support you. We will draft the FCA application package, prepare for meetings with the regulator where required, and respond to FCA due diligence requests.
- If you need to convert the status of an entity’s branch from an EEA to a Third Country Branch, we can assist with the necessary steps necessary. This includes, the required FCA application, compliance documentation, systems and controls gap analysis and ongoing support.
If you are a UK or other non-European Economic Area (EEA) firm that wants to continue to access your EEA clients and investors, we can help with our ACA Mirabella Tied Agent MiFID-passporting solution. This offers a highly flexible "switch-on, switch-off" solution as the client enacts its own arrangements for establishing a longer-term European office/presence.
If you are a firm with a UK presence, we can support you with the updating of your policies, procedures and compliance manuals, reflecting new rules and regulations following the exit of the UK from the European Union.
We can support you with a range of solutions to assist with the ongoing compliance obligations arising from rules promulgated by the UK FCA – be they for fully authorised firms or third country branches. These include:
- MiFID II reviews
- SM&CR support & implementation
We help firms understanding how Brexit affects their firm, along with details on the wider regulatory implications.
Why work with us?
Ron Weekes is Chief Executive Officer of Mirabella, ACA's regulatory hosting division.
Bobby Johal is a Managing Director at ACA.
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