Guidance

Draft Financial Services Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019

The draft SI establishes The Financial Services Contracts Regime (FSCR), which will provide run-off mechanisms to a number of temporary regimes being put in place by separate EU Exit SIs. We intend to lay this SI before Parliament before exit.

Documents

Details

The draft SI establishes The Financial Services Contracts Regime (FSCR), which will provide run-off mechanisms to a number of temporary regimes being put in place by separate EU Exit SIs. These regimes include those for EEA firms passporting under FSMA 2000, EEA firms that passport under the Payment Service Regulations 2017 and the Electronic Money Regulations 2011, non-UK central counterparties, and EEA trade repositories. The draft SI itself is provided, alongside an explanatory policy note. Details on the background and operation of each of these run-off regimes are set out in the accompanying annexes.

Published 17 December 2018
Last updated 21 December 2018 + show all updates
  1. Updated with 'The Financial Services Contracts (Transitional and Saving Provision) (EU Exit) (No. 2) Regulations 2019: draft statutory instrument'.
  2. First published.