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FCA urges firms to consider Brexit “backstop”

by Alice Murray 26 July 2018

GPs keen to retain their UK authorisation under a no-deal Brexit scenario have been advised to keep an eye on a “backstop” scheme the FCA is putting together, with plans to start processing requests to join early next year. [caption id="attachment_4505" align="alignright" width="350"] FCA's update follows the first Brussels meetings for Dominic Raab as UK Brexit secretary, earlier in July[/caption] The watchdog’s “temporary permissions regime” would allow firms in the European Economic Area to, for a potential maximum of three years, continue operating and market their funds in the UK even if the country crashes out of the EU next year without a deal.

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