Luxembourg has adopted legislation to ensure that UK-based asset managers can continue serving their clients in the event of a no-deal Brexit.
In the context of continued political uncertainty around the UK's decision to withdraw from the European Union, the possibility of a no-deal Brexit is becoming more likely and has sparked fear among businesses. Consequently, some EU governments, including Luxembourg, France, Germany, Italy, the Netherlands and Ireland, have adopted and/or amended national laws to limit the negative impact of a no-deal Brexit. In this way, UK-based asset managers can continue serving their clients regardless of the outcome of Brexit negotiations.
According to the Financial Times, these countries are attempting to mirroe the UK government's so-called temporary permissions regime (TPR), which allows EU asset managers to continue operating within the UK. The TPR concerns EEA firms and funds operating, providing services or marketing funds in the UK and allows them to benefit from it provided they notify the UK regulator(s) by 29 March 2019.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/luxembourg-europe/?&tag=Brexit
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Luxembourg has adopted legislation to ensure that UK-based asset managers can continue serving their clients in the event of a no-deal Brexit.
In the context of continued political uncertainty around the UK's decision to withdraw from the European Union, the possibility of a no-deal Brexit is becoming more likely and has sparked fear among businesses. Consequently, some EU governments, including Luxembourg, France, Germany, Italy, the Netherlands and Ireland, have adopted and/or amended national laws to limit the negative impact of a no-deal Brexit. In this way, UK-based asset managers can continue serving their clients regardless of the outcome of Brexit negotiations.
According to the Financial Times, these countries are attempting to mirroe the UK government's so-called temporary permissions regime (TPR), which allows EU asset managers to continue operating within the UK. The TPR concerns EEA firms and funds operating, providing services or marketing funds in the UK and allows them to benefit from it provided they notify the UK regulator(s) by 29 March 2019.
Learn more / En savoir plus / Mehr erfahren:
https://www.scoop.it/t/luxembourg-europe/?&tag=Brexit