As we get closer to the UK’s exit from the EU, the Financial Conduct Authority (FCA) have opened applications for credit ratings agencies and trade repositories looking to offer services in the UK after 29 March 2019.
The FCA is continuing to prepare for a range of scenarios in relation to Brexit, including one in which the UK leaves the EU without a deal and without entering an implementation period.
In line with this, the authority have now opened advance applications from credit rating agencies (CRAs) and trade repositories (TRs) looking to offer services in the UK after 29 March 2019. CRAs and TRs looking to register a new UK entity or convert their European Securities and Markets Authority (ESMA) registration into an FCA registration can find information on how to submit an advance application on their CRA and TR webpages.
Additionally, the window is now open for EEA data reporting services providers (DRSPs) authorised under MIFID to let them know that they wish to provide data reporting services in the UK after exit day. EEA DRSPs should notify the regulator by 15 February 2019 and can find more information on how to notify the FCA on the EEA DRSP webpages.