News News Flash - Transitional regime applicable to the provision of financial services by entities based in the United Kingdom is published 23/12/2020

Decree-Law No. 106/2020, of 23 December, was published in the Official Gazette which approved a transitional regime applicable to the provision of financial services by entities based in the United Kingdom, which establishes the rules applicable within the scope of financial services after the end of the transitional period set out in Article 126 of the Agreement on the withdrawal of the United Kingdom from Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community.

The Decree-Law in question enters into force on 24 December and takes effect from 1 January 2021 if, on that date, an agreement has not been concluded between the European Union and the United Kingdom, Great Britain and Northern Ireland, or an equivalence decision, which regulates the matters covered by the statute.

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