On 12 April 2019, the FCA published notifications amending the Directions concerning the temporary permissions regime in light of the further extended Article 50 process.
The FCA has published:
- Temporary Permission Notification (FSMA);
- Temporary Permission (UCITS);
- Temporary Permission (AIFM);
- Temporary Permission (emoney); and
- Temporary Permission (payments).
These documents extend the notification window for the temporary permissions regime to 30 May 2019.
On the FCA’s webpage concerning the temporary permissions regime for inbound passporting EEA firms and funds, the following new text has been added:
“In light of the delay to the process of the UK’s withdrawal from the EU, the notification window for the temporary permissions regime will be extended and will now close at the end of 30 May 2019. We will keep this under review, and communicate any further changes as appropriate.
Any fund managers that, as a result of this extension, wish to update their notification should email email@example.com by the end of 16 May 2019 at the very latest confirming this and including their FRN.”