FCA has reminded firms they have less than a month before the end of the transition period. It highlights:
- the changed rules that will apply from 1 January 2021, which are not subject to the Temporary Transitional Power; and
- the end of passporting, and the need for firms to be sure they can legally carry on cross-border activities – and that they must ensure the right outcomes for customers and provide them with timely communications to help them make decisions.
UK Finance has also reminded firms that they should:
- check they have the right qualifications for the jurisdictions in which they operate;
- check they have fully appreciated the effects of Brexit on data transfer; and
- check whether travelling employees will need visas or work permits.