Financial Services Sector: End of Transition Period Guidance
Information for the financial services sector and consumers on the end of the transition period.
The UK has left the EU, and the transition period ended on 31 December 2020. For businesses and consumers in the financial services sector, there may have been changes on or before 1 January 2021. This page brings together guidance for the end of the transition period from HM Treasury, the Financial Conduct Authority (FCA), the Bank of England (Bank), the Prudential Regulation Authority (PRA) and the Foreign, Commonwealth & Development Office (FDCO) for consumers and businesses.
Financial services providers should contact customers if they are affected. If individual customers have concerns about whether their products might be affected, they should contact their provider.
Financial services providers should continue to follow guidance from the FCA, Bank and PRA about how to prepare for the end of the transition period. Providers should speak to the relevant authority if they have any questions.
Information for both consumers and financial services providers is provided in the links below. For information on other sectors and actions you may need to take, use the Transition self-checker.
Information for consumers
- How Brexit Could Affect You (FCA)
- Living in Europe - including information on Banking and financial services
- Foreign travel insurance
Information for financial services providers
- Brexit (FCA)
- EU withdrawal (Bank/PRA)
- Preparing your firm for Brexit: end of the transition period (FCA)
- Information for the banking and payment sectors in the UK (FCA)
- Information for life insurers in the UK about pensions and retirement income (FCA)
- Financial services legislation under the EU (Withdrawal) Act 2018
- HM Treasury Equivalence and Exemption Determinations Framework for Financial Services
- Onshoring and the Temporary Transitional Power (FCA)
- Temporary permissions regime (FCA)
- Transitioning to post-exit rules and standards (Bank/PRA)
- Temporary Transitional Power (Bank/PRA)
- Key regulatory communications in December 2020 (PRA)
- Temporary permissions regime (PRA)
- Financial Services Contracts Regime (PRA)
- Information on the effect of the UK’s withdrawal on FMI supervision (Bank)
Last updated 4 January 2021 + show all updates
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Removed the link to PRA page 'Authorisation of EEA banks & Insurers. Added a link to Key Regulatory communications in December 2020'. Changed some of the tense from present to past.
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First published.