The Financial Services (Miscellaneous) (Amendment) (EU Exit) (No.2) Regulations 2019

On 28 February 2019, HM Treasury published a draft of the Financial Services (Miscellaneous) (Amendment) (EU Exit) (No.2) Regulations 2019. The draft statutory instrument (SI) is part of a wider package of SIs laid by HM Treasury in order to ensure the UK continues to have a functioning financial services regulatory framework after the UK leaves the EU. The draft SI addresses errors and omissions in earlier SIs, and makes amendments that do not fall within the remit of changes made by other SIs, such as revocations of retained EU law that have no reference in a UK-only context. In particular the draft SI: amends the EEA Passport Rights (Amendment, etc., and Transitional Provisions) (EU Exit) Regulations 2018. A provision is added to place an obligation on firms that enter the contractual run-off (established in amendments made by Financial Service Contracts (Transitional and Saving Provision) (EU Exit) Regulations 2019) to inform their UK consumers of their status as an exempt…

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