Special Purpose Bank News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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As a result of the United Kingdom ( UK ) exiting the
European Union ( EU ) on 1 January 2021, a number of
financial institutions in the UK lost their exclusive
right of access to utilize the European Economic Area
( EEA ) passporting rules.
1 These changes have also been felt
by financial institutions based in Gibraltar.
Back in 2016, it was reported around 5,500 UK companies with
licensed activities which have passported their authorization
(
i.
e., a licensed activity) into the EEA are
impacted as a result of the UK exiting the EEA bloc. ....

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