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UK Conduct Regulator Amends Directions for E-Money and Payment Services Temporary Permissions Regime
07/31/2019The U.K. Financial Conduct Authority has published two amending Directions under the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018 varying the deadlines by which e-money and payment services firms should notify the FCA of their intention to rely on the temporary permissions regime following the U.K.’s exit from the EU. The TPR will allow EU firms to continue providing financial services in the U.K. post-Brexit for a limited period of time, pending full FCA permission being granted. Notifications should now be made by October 30, 2019. The extended deadline falls immediately before the revised Brexit deadline of October 31, 2020.
View the FCA's amended Direction on notifications for the e-money services temporary permissions regime.
View the FCA's amended Direction on notification for the payment services temporary permissions regime.
View details of the FCA’s extended TPR announcement on April 11, 2019.
View details of the FCA’s extended TPR announcement on March 28, 2019.
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