EU authorisation support for investment firms
Since Brexit, many UK investment firms have found themselves increasingly shut out from EU markets.
Transitional measures have expired without any equivalence being granted, and regulators within the EU are seeking to reduce the ability for investment firms to rely on reverse solicitation as a business strategy.
Initially only large firms sought to establish a full EU presence, to service clients in EU27 markets. However, now an increasing range of investment firms are seeking to establish an EU hub, in order to solicit business and service clients based in the EU27. Doing so requires seeking authorisation in at least one market, with passporting then available to access clients in the other 26.
Selecting a jurisdiction
Although the EU27 jurisdictions have a common regulatory framework, the practical differences between locations can be significant.
Some markets have more depth in certain business models (asset management in Luxembourg and Ireland, broking and trading platforms in the Netherlands and France), meaning a different level of experience among the regulatory and compliance community.
Other markets have a particular focus on retail firms or CFDs (Malta, Cyprus), but less depth in wholesale professionals. Certain markets are also more open to applications prepared in English.
We can work with you to select the jurisdiction which will be most appropriate for your business.
Post-application support
After a successful application, we can assist you with meeting your ongoing regulatory obligations. This can include maintaining your local policies and procedures, overseeing your compliance monitoring activities, and assisting local staff with queries as they arise.
Seeking authorisation
We can guide you through the application for the jurisdiction of your choice, helping to prepare the pre-applications materials, the full application pack, and tailored policies and procedures.
We will also assist with responding to question from the regulator. Our professionals have experience working on applications in Ireland, Netherlands, France, Spain, Portugal, Luxembourg, Malta and Cyprus.