Tag Archives: EEA

PRA confirms process for submitting Temporary Permission Notification Forms

The PRA has issued a direction that confirms the process, including timings, for notifications by incoming EEA firms that wish to continue operating in the UK after Brexit (in the event of no applicable transitional agreement being in place).  

FCA surveys firms passporting into UK

As part of its preparation for Brexit, the Government announced in December 2017 that it would, if necessary, introduce legislation to enable a ‘temporary permission’ scheme for EEA firms and funds which, following Brexit, can no longer rely on their passporting rights to do business in the UK. The FCA has published a survey to […]

Treasury Committee letter to Chancellor on effect of Brexit on insurance contracts

The Treasury Committee has published a letter written to the Chancellor of the Exchequer highlighting the problem with insurance contracts sold under passporting arrangements with a duration beyond 29 March 2019. The Chair of the Treasury Committee explains that without further action, insurers will lose the right to service these contracts and there may be insufficient time to […]

Scotland’s Place in Europe

On 20 December 2016, the Scottish Government published what is would like to see happen after Brexit in its discussion paper on “Scotland’s Place in Europe”. The paper sets out the importance of continued European Single Market membership for Scotland (if not the entire UK), and says this is also the best outcome for the […]