UK perimeter scoping for an international firm entering the market
Before launching in the UK, an international firm needed to know whether its activities would need FCA authorisation. MEMA set out its UK regulatory position and what it would need in place.
- ClearUK regulatory position
The challenge
The firm wanted to operate in the UK, and its home-market permissions did not answer what the UK would require. It needed to know where it stood before committing time and money to the market.
Regulatory context
Whether an activity needs FCA authorisation turns on the Regulated Activities Order, the FCA's Perimeter Guidance (PERG) and where the activity is carried on. Some overseas firms can rely on an exclusion; others need authorisation, or a UK entity, before they start.
What we did
- Set out which of the firm's activities would fall within the UK regulatory perimeter
- Explained what it would need in place to operate here
The outcome
A clear view of the firm's UK regulatory position before it committed to the market.
Client details are presented to protect confidentiality. Outcomes reflect specific engagements and are not a guarantee of results, as every firm's circumstances differ.
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