UK financial market entities in Poland –
A Polish Brexit bill, passed on 15 March 2019, provides a
transition period for the business operations of UK financial
market entities in Poland, starting from the date of a
"no-deal" Brexit. This period will allow businesses to
conduct any legal operations needed to cease legal relationships
entered into before the day of "no-deal" Brexit, or to
establish a legal basis to continue to operate in Poland (i.e. by
obtaining the correct permit). The Polish Brexit bill names
specific financial market business types and contains details on
permitted and forbidden activities within the transition period.
The length of the transition period differs depending on business
type, but typically does not exceed 12 to 24 months. The approach
of the Polish authorities is intended to create a mechanism for UK
entities to cease their activities and allow them time to do this.
This is a different mechanism from the one applied, for example,
