Top 10 things EEA firms need to know about UK authorisation

Now that we are in a post-Brexit world, the FCA has started allocating “landing slots” to European Economic Area (EEA) firms currently operating in the UK under the temporary permissions regime (TPR), with the first slots opening in July. EEA firms operating under TPR have to consider whether to seek full authorisation from the FCA and need to start planning to submit their application.

To help you navigate the regulatory landscape, we have produced a top 10 things EEA firms need to know about the UK Authorisation. It includes:

• Advice on how to leave the TPR
• Details on what happens during the landing slot and what happens if you miss it
• Advice on which regulator to apply to
• The materials to read before submitting the application
• Whether you should consider a UK subsidiary
• The documents needed to file with the application
• Details of what needs to be in your business plan
• How your application will be assessed and timeframes
• How UK rules applicable to you will change once you are authorised
• A couple of forthcoming UK regulatory changes you need to know about

If you have any queries or would like to arrange a meeting with our FS Regulatory team to discuss the process and key considerations, please email your usual Simmons contact.