January 17, 2022

Temporary Permissions Regime

The Financial Conduct Authority has today confirmed their approach to European firms temporarily operating in the UK.

The regime was designed to ensure that European firms operating in the UK via a passport when the Brexit transition period ended could continue operating temporarily while they seek full authorisation in the UK. They have made it clear they need to see a firm actively pursuing full authorisation and have already cancelled the temporary permissions of 4 firms who did not meet their requirements.