As valued clients we want to keep you updated on Brexit and any impact this may have on your relationship with Chase Buchanan. As a financial services company based in Cyprus we are confident Brexit will have no impact on our client relationships and the way we do business. We are of course monitoring all developments, as well as working with regulators and policymakers, to understand any implications and maximise opportunities, as things progress.

For our UK clients we have successfully applied to the UK Financial Conduct Authority (FCA) under their Temporary Permissions Regime (TPR). The TPR is part of the UK’s Brexit contingency planning, in preparation for the possibility the UK exits the EU on 29 March 2019 with no deal. The current deal under negotiation provides a transitional period from 29th March 2019 to the end of December 2020. During this period EU law will remain applicable in the UK. If this agreement is reached, Chase Buchanan will continue to benefit from the passporting arrangements between the UK and the EU, whilst implementing the new EU legislation due to come into effect before the end of December 2020. However, if the UK leaves the EU without a deal, there will be no implementation period, the UK will become a ‘third country’ and the passporting regime will fall away. The TPR aims to provide a backstop in this scenario whereby Chase Buchanan can continue operating in the UK for a limited period whilst obtaining full UK authorisation.

We’ll be in touch again when we have a clearer understanding of the way forward post Brexit. In the meantime we are confident we can continue to operate in all our existing markets, with minimal disruption to our clients and our operations. If you do have any questions, please email us at info@chasebuchanan.com, or speak to your adviser.

It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different jurisdictions. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.

The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.