Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Brexit definition

What does Brexit mean? Brexit is the practical shorthand in legal drafting and advice for the United Kingdom’s withdrawal from the European Union and the legal, regulatory and trading changes flowing from it. It covers the UK’s cessation of EU membership on exit day (31 January 2020) and the cessation of the EEA Agreement’s application, the end of the implementation/transition period on IP completion day (31 December 2020), and the commencement, expiry or variation of post‑withdrawal trading and regulatory arrangements, including the UK‑EU Trade and Cooperation Agreement, the Windsor Framework (amending the Northern Ireland Protocol), and UK agreements with third countries...

UCITS after Brexit: the UK onshored framework, FCA rule changes, UK UCITS requirements, and UK market access for EEA funds (TPR, FSCR, OFR)

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Practice notes

This quick guide to brexit undertakings for collective investment in transferable securities 2009/65/EC (ucits) outlines current UK law and retained EU law on UCITS—as well as depositaries, trustees, managers and operators of UK‑authorised non‑UCITS funds—that are amended and/or revoked by the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019, SI 2019/325 (the UCITS Exit Regulations), together with other instruments taking effect at the end of the implementation period after the UK’s withdrawal from the EU, and related updates to Financial Conduct Authority (FCA) rules and guidance.

This summary explains the arrangements for onshoring EU requirements for UCITS following the Brexit implementation period. For additional practical help on Brexit preparations by asset managers and investment funds, including the effect on delegation by UCITS managers, see Practice Note: Impact of Brexit on asset managers and investment funds [Archived].

Overview of onshored and preserved EU-derived law post-IP completion day

The UCITS Exit Regulations sit within HM Treasury’s programme of statutory instruments (SIs) made under the European Union (Withdrawal) Act 2018 (EU(W)A 2018) to address contingency planning for a no‑deal Brexit. They form part of the wider move to bring EU measures into domestic law—‘onshoring’...

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Web page updated on 22/05/2026

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