EEA firms

European Economic Area firms ‘passporting’ into the UK under single market directives such as the Insurance Directive. EEA firms are EU Member States plus Norway, Iceland and Liechtenstein. The FSMA 2000 (EEA Passport Rights) Regulations 2001 deal with the exercise of passport rights created under Schedule 3 of FSMA. They set out the information that must be provided to the FSA by an EEA firm exercising its passport rights. Proper notification by the EEA firm secures automatic authorisation.

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