The FCA has published a discussion paper (DP20/2) setting out a suggested structure for a new bespoke prudential regime for UK investment firms. In 2019, the EU published rules introducing such a regime, the Investment Firm Directive and Regulation (IFD/IFR), which is to be implemented by 26 June 2021.
As the UK is no longer a member of the EU and with a transition period ending at the end of 2020, it is not obliged to implement the EU’s rules.
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