Following defeat in the UK Parliament for the Brexit deal on Tuesday 15 January, we have produced four podcasts which consider the temporary permissions regime or TPR as it applies to banks, FCA authorised firms, and firms providing payment services and/ or issuing e-money, and the related question of contractual continuity. The TPR is being implemented by the UK government and regulators, in preparation for a hard Brexit, to permit European financial services firms to continue to carry out business in the UK for a limited period post-Brexit.

Podcast One: Financial Services Regulatory – TPR Banks

Alex Forzani and Jamie Turner (both Associates in the Financial Services Regulatory practice) consider the TPR as it applies to banks.

Podcast Two: Financial Services Regulatory – TPR FCA authorised firms

Victoria Ferres (Senior Associate in the Financial Services Regulatory practice) and Isabelle Westbury (Associate in the Financial Services Regulatory practice) consider the TPR as it applies to FCA authorised firms.

Podcast Three: Financial Services Regulatory – TPR payment services and e-money

Nikki Johnstone (Senior Associate, Financial Services Regulatory practice) Martin Dowdall (Associate, Financial Services Regulatory practice) and Heenal Vasu (Senior PSL, Financial Services Regulatory practice) consider the TPR as it applies to firms providing payment services and/or issuing electronic money.

Podcast Four: Financial Services Regulatory – temporary contractual continuity in the UK post Brexit

Kirsty Taylor (Senior PSL, Financial Services Regulatory practice) and Jack Prettejohn (Associate in the Financial Services Regulatory practice) consider the draft financial services contracts regime, or Contractual Continuity Regime, and outlines the basis upon which EEA firms that currently passport into the UK and which either do not enter the TPR or which exit the TPR without authorisation can continue to service existing contracts.

Click here to listen to the audio.