Brexit Is Finally Done, but UK Financial Companies are Ready

The United Kingdom and European Union have finally reached a post-Brexit trade deal, ending months of disagreements over fishing rights and future business rules. The negotiations formally ended on 24 December 2020 with an agreement approved in principle by the UK Prime Minister (on behalf of the UK) and (on behalf the EU) the President of the European Commission.

“We have taken back control of our laws and our destiny,” declared British Prime Minister Boris Johnson, who posted a picture of himself on social media, beaming with thumbs up.

European Commission President Ursula von der Leyen said: “It was a long and winding road, but we have got a good deal to show for it.”

UK Financial Companies has Ready for Brexit

In the same day, Financial Conduct Authority has reminded the UK financial services sector that “The Brexit transition period ends at 11pm on 31 December 2020. After this point EU law will no longer apply in the UK. For many financial services businesses, this will mean changes to existing systems and services. ” 

As Fazzaco reported earlier, ActivTrades UK has been granted a licence for its Luxembourg office that ensures the smooth transition of services for its European clients after the UK completes its departure from the European Union. Hirose UK has noticed its customers that it has stopped accepting clients from the European Economic Area (EEA) as it prepares for Britain's exit from the European Union.