The FCA directs EEA firms that are providing their services in the UK on the basis of passporting to notify the FCA if they wish to use TPR in order to obtain a deemed permission or variation. Notifications will have to be submitted using Temporary Permission Notification Form via the FCA’s Connect system. The window for submission of notifications is between 7 January 2019 and 28 March 2019 (inclusive of both dates). The FCA states that once the notification window has closed, firms that have not submitted a notification will not be able to use the TPR.
More information on the TPR and notifications is available on the FCA’s website here.
For more information on the matters discussed in this Locke Lord QuickStudy, please contact the authors.
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