06 Aug 2019
As you may be aware, the developments relating to the UK Exit from the European Union, commonly known as Brexit are on track for end January 2020. Throughout the Brexit process we have and continue to work closely with our Regulators in France and the UK and we have established a dedicated team to follow and implement regulatory guidelines. Post Brexit BLOM Bank France is committed to maintaining its London operations and presence extending since 1983 and to serving the clients as always from inception.
We will continue to be a Branch of BLOM Bank France with our Head Office in Paris and we have submitted an Application to the Bank of England (PRA/FCA) for authorization as a Third Country Branch, in replacement of the EU Passporting Rights regime that is expected to end after the UK exits the EU. We were also granted a transitional temporary permission pending final assessment by the UK Regulators.
We do not anticipate any changes in our clients legal documents, account opening contracts, loan agreements, KYC's and GDPR requirements and as such there is no need for you to take any action at present. We will, of course, communicate any requirements stemming from Brexit in due course and we shall be at your disposal to help you in attaining.
We wish to take this opportunity to thank you for banking with us and to assure you of our commitment to provide you with our best service and as always enable your peace of mind.
BLOM BANK France