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FCA extends notification window for temporary permissions regime (TPR) to 30 May
On 12 April, the FCA published amended directions relating to notifications concerning the TPR, which extend the window for notifications to the FCA by firms wishing to enter the TPR from the end of 11 April to the end of 30 May. The five directions apply to: (i) EEA firms with passports and Treaty firms. They revise directions made by the FCA on 9 November 2018 and 28 March; (ii) EEA authorised payment institutions and EEA registered account information service providers and EEA authorised electronic money institutions. They revise directions made by the FCA on 18 December 2018 and the directions made on 28 March; and (iii) EEA UCITS and EEA AIFs (which also covers EU long-term investment funds, social entrepreneurship funds and venture capital funds). The amended directions relate to temporary marketing permissions, and extend the period for submitting the fund notification permission regime notification form to the end of 30 May by revising the FCA directions made on 28 March. The FCA has updated its webpage on the TPR for inbound passporting EEA firms and funds to reflect the extension of the notification window. It states that any fund managers that, as a result of the extension, wish to update their notification should email the FCA by the end of 16 May at the very latest confirming this and including their firm reference number. The FCA has also updated the guide to making notifications of an intention to use the TPR.