Are you a UK firm doing business in the EEA for banking, financial or payment services or for insurance services?
Then you know that your current FCA/PRA licence does not authorize you to work with, or solicit, clients who are located in a member state of the European Economic Area anymore. You should also know that GDPR regulations regarding personal data transfers outside the EEA now apply to you.
Advocating reverse solicitation with your EEA customers?
You should carefully review your operations, marketing, and client interactions to ensure EU regulation including MiFID II, AIFM or UCITS Directives, do not apply to you. Keep the confidence up with your EEA customers and register your firm with the relevant EEA member state authorities.
Business as usual?
Your activity is regulated in the EEA pursuant to European legislation. Doing business as usual outside of the UK without a local licence will make you liable for felony for illegal practice of a regulated activity. If you have not done so already, it is time to adapt your legal and operational set up to the rules applying to the business you are doing in the EEA.
Can we handle the whole application process and the preparation of the documentation for the local NCA with respect to your licence?
Obviously, yes. Our intent is to provide you with a one-stop shop for your licence in the EEA. Through our compliance specialists, we will draft and complete all the required documentation, and conduct all meetings with the local NCA until you are issued the EEA licence equivalent to your FCA licence.
And what if you need to set up a subsidiary or a branch office in the EEA?
We are a full service, independent Law Firm and will advise and assist you for your local set up including the incorporation of a subsidiary or the registration of a branch office. We are able to respond and assist you with our European law firm network for any legal matters in corporate law, tax law and employment law.Our services will cover the whole process of setting up your licence in the EEA and not consist in providing legal recommendations you would have to implement. We will implement ourselves the legal recommendations that we make and no additional external assistance will be required. Prior to our intervention, we will assess and discuss your objectives and provide a budget estimate so that you feel comfortable.
Which licence should you opt for?
Our regulatory specialists possess the experience and the methods you need to obtain the licence required for your financial or payment activities in the EEA. Insurance services licences are also covered.
Do you need to speak French?
Well, of course not. In that matter we will handle everything to make you feel at home. You should know that for example, as most NCAs, the French authority ACPR accepts filings and applications for licences and reporting in English. Good news is that your current regulatory documentation may well be the starting point your future documentation in the EEA.
Well, we have no idea why you should wait.