Finance Companies: Are You Ready For Brexit?

The Chancellor of the Duchy of Lancaster Rt Hon Michael Gove MP has commented:

“It is the top priority of this Government, and principal focus of my job, to get ready for Brexit on 31 October with or without a deal. We would prefer to leave with a deal, and continue to work in an energetic and determined way to achieve one, but we must be prepared for all eventualities.

“This report sets out what will change if we leave without a deal and explains what the Government is doing to get ready. Significant preparations have been underway for the last three years and these have been accelerated under the Prime Minister’s leadership. At every point, the Government will be candid about any further challenges ahead as well as clear-eyed about the opportunities. Together, government, businesses and citizens are working so that we will be ready for Brexit on 31 October– and can look forward to the future with certainty and confidence.”

Part of the report covers information for organisations operating in financial services. Key preparation points outline:

• The Government has delivered a programme of legislation and temporary measures, to ensure there is a functioning standalone regime for financial services once the UK leaves the EU, with or without a deal.
• This includes transferring essential functions currently carried out by the EU to the appropriate UK bodies and introducing a range of temporary permissions and transitional regimes to smooth the transition for firms and consumers.
• The Government welcome the steps taken by the EU and some Member States to mitigate certain risks to the sector that could arise if we leave without a deal.
• Firms should continue to work with regulators to ensure they are prepared.
• The UK will continue to maintain high standards of regulation and a level of resilience that exceeds baseline international standards. High regulatory standards and our leading role in setting global standards are the foundations of our position as a global financial centre.

The Government has also released updated information tailored at the various industries, whether they trade or provide services with the EU, receive funding or deal with public sector procurement etc.

Finance companies can view information such as accounting for UK companies after Brexit, auditing for UK auditors and audit firms operating in the EEA after Brexit.

No one knows for sure what changes are going to be in place until after the 31st October 2019. In anticipation of the possibility of the UK leaving and incorporating an amended version of the GDPR into UK law, Google has already been notifying users of their Ads platforms regarding adjustments they are making to their policies and terms,

If non-UK companies do not make any changes to their user terms once the UK has left the EU, they could be at risk of being non-compliant when processing UK citizens’ data.

Using Live Chat Software after Brexit

Being based within the UK, our security officers are constantly keeping up to date with the latest information that is released regarding Brexit and any changes to UK law the might affect their chat for websites software. Any changes that need to be made to remain compliant will be executed with no impact to our customers.

For users of the Click4Assistance solution, all data is encrypted in transit using secure connections and algorithms, it is then stored encrypted at rest using the latest advanced encryption standard. The data will only ever reside within the UK and remains property of the data controller.

How to Add Live Chat Software to Your Website

A free no obligation trial account of our live chat for websites solution can be set up by clicking here, once you have entered your details (name, company, web address etc.) your account will be created. You will receive 2 emails, one with your login details and the download/login link for the software, the other will include the small piece of html script that will need to be added to your website.

Once it has been added to your website, the chat for websites button’s status is controlled by your agents’ availability. If there is at least one user logged in and available, the chat button will be online. If no operators are logged in or available, the button will be offline and can present a form to gather the visitor’s contact details.

It really is simple to implement such an effective communication channel, for very little effort. For more information on how you can comply after 31st October when adding live chat software, contact our team on 01268 524628 or email theteam@click4assistance.co.uk.