Legal Update | Finnish Ministry of Finance is Proposing a Cross-Border Licence for Third-Country Firms

The cross-border licence would include a mechanism ensuring a smooth transition for UK firms from an EU passport to a third-country licence after Brexit.

According to a draft government proposal, the Finnish Investment Services Act will be amended to introduce a cross-border licence for third-country investment firms. Under such licence, third-country firms would be able to provide investment services and activities together with ancillary services in Finland to eligible counterparties and professional clients without establishing a branch in Finland. The Finnish Ministry of Finance is still finalising the proposal, but it is expected to be introduced to the Parliament next week.

You can read the Legal Update by Jari Tukiainen, Sanna Boow and Senni Mäki-Hallila here: Finnish Ministry of Finance is Proposing a Cross-Border Licence for Third-Country Firms