FIN.

Category - Brexit

FPC updates on stability risks

The FPC has concluded that Covid-19 continues to put strain on households and businesses, but that banks are strong enough to keep supporting them as a result of the actions to strengthen the system taken after the 2008...

FCA updates Handbook for end of transition

FCA has published an updated version of its Handbook to reflect the rules that will apply at the end of the Brexit transition period, and explained how it will use its Temporary Transitional Power. Broadly, FCA plans to...

FCA updates on Brexit preparations

FCA has urged firms to make sure they have considered how the end of the transition period will impact them and their customers.  It has updated its webpage to include stressing that firms with any client money or...

PRA consults on pre-Brexit changes

BoE and PRA have issued a consultation on changes to its rules before the end of the transition period.  The paper covers: an update on the use of BoE and PRA’s intended use of the temporary transitional power;...

UK and Japan strike free trade deal

The Government has announced a new free trade agreement between the UK and Japan, which it says will increase trade with Japan by an estimated £15.2 bn.  For financial services, there will be improved market access and...

FCA publishes quarterly consultation

FCA’s latest quarterly consultation mainly covers: onshoring changes to the Handbook or technical changes FCA will need to make as a result of onshoring. It asks for comment on the bulk of the changes by 4...

FCA to reopen TPR window

FCA has updated its website pages on the Temporary Permissions Regime. It plans to reopen the TPR notification window on 30 September to allow for further new notifications, and to allow fund managers to update...

FMLC responds on departure from EU case law

FMLC has offered its views to the Ministry of Justice on whether courts and tribunals other than the Supreme Court and High Court of Judiciary should have the ability to depart from retained EU lase law after the end of...

Treasury amends PRIIPs requirements

Treasury has published a policy statement on how it proposes to amend the PRIIPs Regulation as it onshores it. It plans early changes to address the most pressing concerns and to ensure the regime provides more...

Lloyd’s updates on Part VII and Brexit

Lloyd’s has confirmed that, as of the end of the Transition Period on 31 December, Members’ policies will be transferred to Lloyd’s Insurance Company SA. The affected policies will be those where all...

MPs want Brexit information

The EU Services Sub-Committee has written to John Glen asking for more detail on: UK/EU equivalence – it wants to now when the Government will be publishing its decisions. The Government had said it has finished...

Commission begins Brexit warning notices

The European Commission has stated the process of sending Stakeholder Preparedness Notices, to summarise for stakeholders the effect of Brexit on over 100 sectors.  It had originally published these notices during...

FCA reformats Brexit advice

FCA has revamped its information page on Brexit. The page gives advice to firms on what they should be considering in preparation for the end of the transition period. Much of the information is not news, and includes a...

FCA to reopen TPR

FCA has updated its webpages on the temporary permissions regime, to note it will reopen the TPR windows for inbound passporting EEA firms and funds on 30 September, and will also allow fund managers to update their...

Barnier speaks on Brexit

Michel Barnier has spoken at the Eurofi General Assembly on UK/EU relations.  He noted the desire to give the EU/UK negotiations “every chance of succeeding”.  He noted he had rescheduled many other meetings...