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ARTICLE · 28 SEPTEMBER 2020

UK - Registration Update - TPR And Access To Market Post Brexit

Dillon Eustace
Dillon Eustace
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Dillon Eustace

Dillon Eustace

Dillon Eustace is one of Ireland’s leading law firms focusing on asset management and investment...

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The clock is ticking to 31 December 2020 (the "Brexit Deadline"), the date on which the transition period set down in the EU/UK Withdrawal Agreement will expire and the UK will become a "third country".

IrelandFinance and Banking
Tara O'Callaghan
Tara O'Callaghan
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The clock is ticking to 31 December 2020 (the "Brexit Deadline"), the date on which the transition period set down in the EU/UK Withdrawal Agreement will expire and the UK will become a "third country".

At that point, access to the UK market for Irish funds will change considerably and cease in practical terms for a period for new funds authorised after the Brexit Deadline and existing funds which have not entered the Temporary Permissions Regime ("TPR") by 30 December 2020 (the "TPR Deadline").

Temporary Permissions Regime

The TPR allows continued access to the UK market for a period of up to 3 years after the Brexit Deadline. The TPR is available to UCITS and AIFs which are already approved to market in the UK and which make application for the regime prior to the TPR Deadline.

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