Reference Case Number: FOI10936
Freedom of Information: Right to know request:
This is a question about firms in the EEA who provide services in the UK and were allowed to keep doing business under the temporary permissions regime. Please let me know how many had not received full authorization to keep doing business as of Dec 18, 2023; also which companies had not received this full authorization by Dec 18, 2023 please.
FCA response:
We can confirm that a total of 212 solo-regulated temporary permissions regime (TPR) firms (or a related UK entity) have secured full UK authorisation. Of these only one firm’s application had yet to be determined as of 18 December 2023. This was subsequently determined 20 December 2023.
Furthermore, 979 solo-regulated TPR firms left the regime without being authorised. This number consisted of firms that did not seek full UK authorisation and firms that did seek full UK authorisation but failed to meet our standards. These firms may be using (or have used) the financial services contracts regime to run-off their UK business.
In respect of your question on ‘which companies had not received this full authorisation’, we expect to publish this information in the very near future and, therefore, under section 22 (information intended for future publication) we are exempt from the duty to provide it to you in advance. For more information on why we are applying this exemption please see Annex A.