Cyprus:
FCA Temporary Permission Regime For EEA Firms And Funds
14 January 2019
AGP Law | A.G. Paphitis & Co. LLC
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On the 7th of January 2019 the UK Financial Regulator
– The Financial Conduct Authority (FCA) opened its
notification window for the Temporary Permissions Regime (TPR) for
inbound passporting EEA firms and funds.
If there is not an implementation period and the passporting
regime falls away, when the UK leaves the EU, the TPR will provide
a backstop to ensure that inbound firms can continue their UK
business with minimal disruption.
TPR will allow inbound firms to continue operating in the UK
within the scope of their current permissions for a limited period
after exit day (29.03.2019), while seeking full UK authorisation.
Notifications will need to be submitted between 7 January 2019 and
28 March 2019 (inclusive of both dates).
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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