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Brexit Implementation

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Working in a post-Brexit world with ACA.

Now that Brexit transition period has closed, many firms globally need to consider and even adapt their business models and regulatory registration arrangements to continue operating within both the UK and the EEA. This means:
 

  • Understanding the EU/UK Trade and Cooperation Agreement and the medium-term for financial regulation in both areas
  • European Economic Area (EEA)-based and third-country asset management firms need to consider how to maintain access to the UK market
  • UK firms need to seek a replacement to passporting in order to continue to access EEA markets.

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Our Solutions

 

We help global firms find solutions to overcome their Brexit challenges and continue to access the UK markets. Our services include:


Longer-term tactical and strategic compliance solutions for Brexit planning

FCA Authorisation Project Management

Our experienced authorisations team can support you, whether you are submitting a full FCA license or a third-country branch application. We will draft the FCA application package, prepare for meetings with the regulator where required, and respond to FCA due diligence requests.

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Tied Agent MiFID-Passporting Solution 

We help UK and other non-European Economic Area (EEA) firms continue to access their EEA clients and investors using our Mirabella Tied Agent MiFID-passporting solution. This offers a highly flexible "switch-on, switch-off" solution as the client enacts its own arrangements for establishing a longer-term European office/presence.

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EEA to Third Country Branch Solution 

We assist with the steps necessary to convert the status of an entity’s branch from an EEA to a Third Country Branch. This includes, the required FCA application, Compliance documentation, systems and controls gap analysis and ongoing support.

 

Ongoing Compliance Support 

ACA can support firms with a range of solutions to assist with the ongoing compliance obligations arising from rules promulgated by the UK FCA – be they for fully authorised firms or third country branches. These include:


Additional Services

Senior Management Briefing on the implications

We help firms understanding how Brexit affects their firm, along with details on the wider regulatory implications.

Reg Solutions

Once the firm is authorised by the FCA, we can offer RegTech solutions to support day-to-day compliance activities.

Global Registration Services

Our team can also provide other registration services that are required, including with FINRA, the SEC and the CFTC in the US and the SFC in Hong Kong.