UK’s exit from the EU delayed

The EU and the UK have agreed to extend the date for the UK’s departure from the EU. As a result, firms do not need to take action to implement Brexit contingency plans for 31 October.

The FCA will be extending the date by which firms and funds should notify it for entry into the temporary permissions regime (TPR) to 30 January 2020. Fund managers will have until 15 January 2020 to inform the FCA if they want to make changes to their existing notification.

Firms should continue to comply with existing regulatory requirements, including those relating to MiFID transaction reporting and EMIR trade reporting requirements. The arrangements described in our press release of 11 October are suspended and we expect firms to continue to report as normal.

The FCA will continue to provide updates on our website and through other channels. Firms can also call the FCA Brexit information line (0800 048 4255) if they are unsure what changes they need to make as a result of the extension or have any further questions.