Freemarket and Brexit
Brexit Information for Clients
The UK voted to leave the European Union in June 2016. Following the ratification of the Withdrawal Agreement, the UK left the EU at 11pm on 31 January 2020 and entered the transition period. The transition period is due to end on 31 December 2020.
Freemarket does not anticipate any commercial, operational or regulatory issues in continuing to service clients, whether UK or EEA registered, as the UK officially exits the EU on 31st December 2020.
Freemarket has made no assumption of any trade deal or continuation of access to the EU under a temporary permission. Brexit does not hinder Freemarket’s ability to service its UK client base, nor prevent the onboarding and servicing of new UK-registered clients.
Freemarket will retain its ability to service all existing and new EEA-registered clients under an agency licence held with Transactive UAB, a Lithuanian EMI, regulated by the Bank of Lithuania. Freemarket is seeking a full EEA licence with the Central Bank of Ireland, issuance of which is expected in early to mid 2021. However, for absolute clarity and the avoidance of doubt, there will be no reduction in service or functionality in the interim.
If you have any further questions please contact us at email@example.com or contact your Relationship Manager.
If you would like more information on Brexit, please click here.