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Brexit
We have continued to keep under review what Brexit (whatever the nature of the exit) might mean for our business, our clients and our suppliers. Although there is still a great degree of uncertainty as to the outcome of Brexit, we have every confidence in the skills and expertise of our staff to implement any necessary changes. We are committed to ensuring that we continue to maintain the quality of our service offering to our clients and supportive working relationships with suppliers in the run up to Brexit and following the UK’s departure from the European Union.
Will Brexit affect our ability to continue to provide services to our clients?
We are a UK based professional services business with no operations in other EU countries, and we have a predominantly UK based client base and no material dependencies on goods, services or people who live in other EU countries. We understand clients may have some concerns, but we do not expect any material impact from Brexit on our business or ability to provide our services to clients, although clearly, we will continue to monitor Brexit- related developments closely.
Will there be any impact on our authorisations or certifications?
We are a UK business, authorised and regulated by the Financial Conduct Authority and licenced by the Institute and Faculty of Actuaries for a range of investment business activities. We do not carry out regulated activities in other countries and have no dependency on authorisation in other EU countries.
What actions have we taken to understand our supply chain risk?
We have an ongoing process of engaging with our suppliers to understand the plans they have in place to minimise the impact of Brexit and any subsequent disruption to our supply chain. We have worked with third parties to identify critical service providers in key areas of the business and have obtained assurance from those providers or put in place appropriate business continuity plans, such as bulk ordering. A large proportion of our supply chain is UK based and as such we expect any disruption to our supply chain to be minimal.
Will changes to our contractual arrangements with clients be required?
We have completed a review of our standard contract terms and do not anticipate a need to initiate changes. However, we recognise a small minority of clients may require changes to existing contracts to implement their own Brexit planning and contingencies, for example EU model clauses for EU-UK data flows. If you require changes to our contract, please let us know as soon as possible.
How will Brexit affect our staff?
We have a small number of staff who may be affected by Brexit and are working closely with them. However, we do not anticipate that Brexit will have any significant impact on our business operations or our ability to provide service continuity to clients.
Summary
In summary, we do not expect there to be any material impact on our business or ability to provide our services to clients, however we will continue to monitor developments.
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