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Ben Cole

FCA Letter of cross-border booking arrangements

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Ben Cole

The FCA has published a “Dear CEO” letter to firms on cross-border booking arrangements in the context of Brexit. The FCA sets out its expectation that firms expanding their presence elsewhere in the EU must ensure that the booking arrangements put in place enable the FCA to supervise the conduct of their UK business effectively.

dear-ceo-letter-cross-border-booking-arrangements.pdf

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Luuk Jacobs

Ben, Thanks for sharing. Reading through it, it sounds as if the FCA from an FCA perspective wants to move to an equivalence model ("Our starting point is therefore not to restrict business models but to understand the principles and practice involved and how the conduct risks that arise from them are managed. As such, booking models should comply with the following principles")

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