Deadline for ‘Brexit licence’ submission drawing near

Credit: this story was first seen on Investment Europe.

By 15 September 2019, UK fund providers must submit a “Brexit licence” to the Luxembourg regulator, the Commission de Surveillance du Secteur Financier (“CSSF”), to continue trading in the jurisdiction. The CSSF “warned that unless firms submitted a notification to them by 15 September, they would be considered as ‘third-country entities'”, which “would result in a loss of passporting rights and sanctions, should they continue to pursue regulated actitivties in Luxembourg following a no-deal Brexit.

 

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