UK regulators expand on plans to smooth the transition for inbound passporting firms in the event of a “no deal” Brexit.

Overview -

HM Treasury published draft legislation on 24 July 2018 to establish a temporary permissions regime. As previously announced, the regime is being put in place to enable European Economic Area (EEA) financial services firms operating in the UK via a passport to continue their UK operations for a limited period without undue disruption in the event of a “no deal” Brexit.