Getting Ready for Brexit – Banking Business Transfer Scheme
We plan to use our banking entity in the Netherlands, NatWest Markets N.V., to serve our non-UK European Economic Area (EEA) customers when the UK leaves the European Union (EU).
We’re using a legal scheme called a “Banking Business Transfer Scheme” under Part VII of the Financial Services and Markets Act 2000 (the Scheme) to replicate master documentation for EEA customers and transfer certain existing transactions from NatWest Markets Plc to NatWest Markets N.V., an authorised credit institution. We need the approval of the Court of Session in Scotland (the Court) before the Scheme is effective.
The following documents contain more information on how the Scheme works, when it is expected to take effect, what it means for you and how you can make your views about the Scheme known to the Court.
If you still have questions or concerns after reading this information, please speak to your usual contact within NatWest Markets or email us at firstname.lastname@example.org.
- The Scheme document contains the terms of the proposed Banking Business Transfer Scheme in full.
- The Summary of the principle terms of the scheme contains a summary of the key terms of the above scheme document.
- These Legal notices will be published in the relevant newspapers.
- The Notification of the Banking Business Transfer Scheme booklet explains the Scheme, what it means for customers and the ways to make your views known to the Court.
If you would like a copy of the petition filed to the Court in support of the Banking Business Transfer Scheme, please email email@example.com.