With the United Kingdom’s transitional Brexit period coming to an end on 31st December 2020 the European Securities and Markets Authority (ESMA) issued an official statement to participants in financial markets to finalize their Brexit contingency plans.
The Memoranda of Understandings (MoUs), an agreed upon cooperation and exchange policy conducted with the Financial Conduct Authority (FCA), will remain valid after that date and it will start applying as soon as the transitional period ends.
Companies whose activities will be impacted by Brexit are to implement their contingency plans by the end of 2020. They are also to limit the inevitable risks that will be caused by Brexit and they also have to provide their clients with appropriate information about which parts of their services have changed and/or will change.
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I think it is a good idea for people working with such brokers to call them and ask what their plans are, so they too can react accordingly and on time.