IRSG Report – The UK regime for overseas firms

Published 8 Jul 2021

The UK’s regulatory regime is globally leading and one of the most open to international firms in the world. This openness has been a feature of the UK’s regime for a number of decades and has contributed to the UK’s success as a global financial centre.

The IRSG has published a new report analysing the UK’s access regimes, looking at the regulatory perimeter, the branching regime, the Overseas Person Exemption, Financial Promotion Order and the UK equivalence regimes.

The report argues that the UK’s regulatory openness needs to be maintained, but with minor improvements the access regimes could help to make the UK more attractive for international firms. This workstream has contributed to consultations by the FCA, PRA as well as the HMT Call for evidence on the overseas framework.