The Brexit Complex: Will your Brokerage be Trapped in the UK?
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The Brexit Complex: Will your Brokerage be Trapped in the UK?
This article was written by Peter Tatarnikov, Chairman of the Board of The Financial Commission.
Regarding the Brexit and whether or not there will be a definitive ruling on FCA-regulated firms in the UK losing any EU-passporting rights, traders should check to see if their broker maintains separate regulatory statuses elsewhere in the EU – which could cover their place of residence.
Passporting is a practice within the EU that is permitted under MiFID that allows firms regulated in one EU-member state to have their regulatory licenses recognized by other EU-member states, depending on the type of passport ... (read more)
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