Sale of EU27 Funds in the UK Post Brexit
24 Aug 2018
In order to avail of the Temporary Permissions Regime, EEA funds or their managers will need to notify the FCA of the funds which they wish to continue marketing in the UK. The FCA expect that they will begin accepting these notifications in early January 2019, and notifications must be made during the "notification window", which will close prior to the UK leaving the EU on 29 March 2019. Once the notification window has closed, EEA funds will not be able to continue marketing in the UK if they have not filed a notification with the FCA.
As noted on the FCA website, the Treasury has published the first of a number of pieces of legislation that will establish the Temporary Permissions Regime. In terms of next steps, the FCA will consult fully on their proposals in Autumn 2018. In the meantime, firms who have not already completed the FCA online survey may do so here.
How Maples Can Help
At Maples, we will be monitoring developments over the coming months to ensure we can guide you through Brexit as smoothly as possible. The Maples Global Registration Services team ("Maples GRS") will be in a position to complete the required notifications to the FCA in the event that the Temporary Permissions Regime comes into effect.
Should you require any further information or assistance, please do not hesitate to contact your usual Maples and Calder contact or any member of the Maples GRS team.
Head of Global Registration Services Dublin
T: +353 1 619 2708
T: +353 1 619 7004