The Brexit Complex: Will your Brokerage be Trapped in the UK?
Posted: Mon Oct 31, 2016 11:26 am
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)