Anyone working for a UK firm, with UK customers, but living in the EU needs to identify authorisation from EU regulator in case of no-deal Brexit, a network has told an adviser firm.
The Right Mortgage Network has informed two EU-based UK protection advisers that they will be suspended if Britain leaves the EU without a deal unless passporting authorisation has been authorised with their local regulator, even though they are not working with EU clients, PA's sister title Cover can exclusively reveal. As part of its formal preparations for Brexit, the network is demanding - as a regulatory requirement - that the advisers seek authorisation from their local EU regulators to ensure passporting rights are in place - or confirm in writing that authorisation is not needed ...
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