The Danish Financial Supervisory Authority (the Danish FSA) is drawing attention to several important points for Danish undertakings and customers of British financial undertakings in the event that the United Kingdom leaves the EU in a no-deal Brexit.
Translation from original text in Danish. In case of discrepancies, the Danish version prevails.
Originally published in Danish 15 March 2019.
If the United Kingdom leaves the EU without a withdrawal agreement at the end of March 2019 (no-deal Brexit), this means that the United Kingdom will be a third country in regard to EU countries, including Denmark. The automatic right for financial undertakings in the UK to set up and do business in EU countries, as a result of the EU’s single market, will thus lapse.
As the Danish FSA has previously observed, it is important that undertakings prepare for any no-deal Brexit.