On 31 January 2020, the FCA updated its webpage on considerations for UK firms during and after the implementation period, which ends on 31 December 2020.
The FCA webpage:
- sets out a number of questions to help firms assess whether their business may be affected by the end of the implementation period;
- provides information on servicing EEA customers;
- reminds firms to have a clear understanding of any dependencies on EEA outsourcing or third-party service providers;
- urges banks and payment service providers to take the necessary steps to ensure that they are ready to provide the relevant customer information when making payments after the implementation period; and
- instructs firms to be ready to engage with EU regulators to ensure that they will be ready and able to continue to provide services to EEA customers when the implementation period ends.