FCA anticipates passporting will continue after Brexit date

Temporary permissions regime if needed

The Financial Conduct Authority (FCA) has said it anticipates firms will be able to continue to benefit from passporting between the UK and EEA after the point of Brexit and during the implementation period.

In a statement this week, the FCA said the European Council had confirmed that sufficient progress had been made to move to the second phase of negotiations related to the Brexit transition and the framework for the future relationship between the UK and the European Union.  "The FCA welcomes the progress that has been made and is supportive of open markets and free trade in financial services underpinned by strong regulatory standards," it said. Although it noted the final nature of any implementation period is yet to be agreed, the FCA anticipates firms will be able to continue to b...