IRSG report on the UK regulatory regime for overseas firms

The International Regulatory Strategy Group (IRSG) has published a report analysing the UK’s access regimes for overseas firms, looking at the regulatory perimeter, the branching regime, the Overseas Person Exemption, Financial Promotion Order and the UK equivalence regimes.

The report says that the UK’s regulatory openness needs to be maintained but minor improvements to the access regimes could help to make the UK more attractive for international firms. The report has contributed to consultations by the FCA, PRA as well as Treasury’s call for evidence on the overseas framework.