On 30 January 2020, the FCA published a press release containing information for firms during the Brexit implementation period.
The FCA reminds firms that during the implementation period, which is due to last until 31 December 2020, EU law will continue to apply. Therefore firms and funds will retain the benefit from passporting between the UK and EEA until that date. Additionally, there will be no changes to the reporting obligations for firms, which will keep in line with existing EU regulatory requirements.
While the window for firms and funds to notify the FCA if they want to use the Temporary Permissions Regime has closed, the FCA has confirmed that it will reopen the notification window later this year.