The notification process for firms

Find out how to notify us if your firm wishes to use the temporary permissions regime (TPR).

To use the TPR, your firm must notify us using our Connect system.

Notifications must be submitted by the end of 30 December 2020.

Firms should also note the following directions:

We have also published a guide to Connect for firms (PDF) covering the notification process.

There will be no fee for firms notifying us that they wish to use the TPR.

Firms that have not submitted a notification will not be able to use the TPR.

Firms that have already submitted a notification need take no further action at this stage unless your firm needs to update the details of its UK agents that were included in its earlier notification.

Updating details of UK agents

If your firm provides MiFID services in the UK through tied agents or provides payment services or e-money services in the UK through agents, your firm will have included a list of those agents as part of its TPR notification.

Firms should consider if this list of agents needs to be updated. If so, please email the relevant updated agents annex below to [email protected] including your firm’s name and FRN.

If your firm has started to provide MiFID services in the UK through tied agents or provide payment services or e-money services in the UK through agents since it submitted its TPR notification, your firm should also submit the relevant agents annex.

Withdrawing a notification

If your firm has changed its plans, you can withdraw your TPR notification. If you do this your firm will not enter the TPR but will enter the financial services contracts regime (FSCR), where it can wind-down its UK business.

To withdraw a notification, you must let us know by email before the end of the transition period. Firms should also have regard to our supplementary directions:

If, before the end of the transition period, your firm requests us to cancel its passport or your firm’s home state authorisation is cancelled, your firm will not enter the TPR or the FSCR.

Page updates

07/10/2020: Information added Updating details of UK agents
30/09/2020: Information changed Firms can now notify us if they wish to use the TPR.