The UK Government has requested an extension to Article 50 and the planned Brexit date of 29 March 2019 from the European Union (EU). Theresa May announced her plans to the House of Commons yesterday.
 
As global financial planners specialising in cross-border advice, Montfort will seek to ensure a continued service to our clients in the EU. As a result, Montfort will prepare for a range of scenarios. The measures Montfort has adopted within each possible scenario are as follows:
 
- Should a Brexit deal be reached before 29 March 2019; Montfort shall await guidance from our regulator, the Financial Conduct Authority (FCA) regarding the process for gaining permission to continue our business and provide services to our clients residing in the EU.
 
- Should an extension to the current negotiating period be granted, Montfort will continue all business and provide services until a new Brexit deadline date has been agreed. In this instance, Montfort shall await any new guidance issued by our regulator.
 
- In the event of a no-deal exit, Montfort has already written to the regulatory bodies in all EU countries Montfort currently has clients residing. Montfort’s communication has requested permission to continue business within the concerning jurisdictions. We are currently awaiting their response.
 
- In the event of no deal and no extension, there may be a disruption to our service. Montfort will issue an update as soon as practicable of all developments and actions taken by us.

The European Council will meet on Thursday 21 March in Brussels where all leaders from the 27 member states are expected to make a decision. The extension will be discussed from 3.30pm local time with an announcement scheduled for 7pm.


Should the issues surrounding Brexit cause concern or you have any queries, please do not hesitate to contact Montfort. We advise direct contact with your designated financial adviser or please email info@montfort-intl.com or call +44 (0)1483 202072



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