As the debate rumbles on with continued uncertainty of outcome(s), the FCA has updated its pages on 'preparing your firm for Brexit'. This is primarily aimed at firms whose activities include interaction with clients in other EEA states through passporting. It also concerns marketing activity and data transfers between the UK and Europe.
The EU Withdrawal Act will convert existing direct EU legislation into UK law, and preserve existing UK laws which implement EU obligations. The Government has also been given powers to amend this retained EU legislation so that it works effectively when the UK leaves the EU. The Government’s intention is that the same rules and laws will apply after exit as before, as far as possible.
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