Firms must notify us if they wish to use the temporary permission regime (TPR).
The window for firms to notify us that they want to use the TPR is currently closed.
Firms that have already submitted a notification need take no further action at this stage.
We will re-open notification window 30 September 2020 so that firms that have not yet notified can do so before the end of the transition period.
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:
- firms which have passports under Schedule 3 to FSMA or Treaty firms under Schedule 4 to FSMA with or without a top-up permission
- EEA authorised payment institutions and EEA registered account information service providers
- EEA authorised electronic money institutions
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.