Britain said on Tuesday it would grant long-term market access for EU based investment and money market funds used by UK investors, and without new costly requirements such as mandatory valuation assessments.
Funds listed in Dublin and Luxembourg are widely used by UK investors, but asset managers worried that obtaining long-term post-Brexit access to Britain cold come with burdensome new requirements, such as having to re-assess the value of assets in their funds.
Britain’s financial services minister Dim Afolami said that following a fetailed assessment, the government has found that EU funds and ‘equivalent’, meaning they operate under home rules that are robust enough to protect UK investors.
“The government does not intend to require the funds assessed to comply with any additional UK requirements as part of this equivalence determination,” Afolami said in a statement.
Secondary legislation would be needed to implement the equivalence decision, he said.
It replaces a system of temporary access permission which was due to expire at the end of 2025, which was due to expire at the end of 2025, but will now be extended by a year to allow enough time to implement the legislation, Afolami said.
Press Release from Carey Olsen, Friday 11 July, 2025. Carey Olsen’s corporate teams in Jersey and Guernsey are representing Grant Thornton Limited, Channel Islands (“Grant Thornton Channel
The International Monetary Fund upgraded its 2024 view for economic output growth in Latin America and the Caribbean to 2.0% from its January estimate of 1.9%, though it still expects a slowdown, the
The Senate passed legislation on Tuesday that would regulate a form of cryptocurrency known as stablecoins, the first of what the industry hopes will be a wave of bills to bolster its legitimacy and
The European Union’s crypto regulatory framework MiCA goes into full force, heralding significant changes for the industry. Major events like the ICO boom and the implosions of Terra and FTX have