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 even in the event of a ‘no deal’ at the end of the transition period.
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.
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.
We engaged 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 and we conduct business continuity planning, including any supplier dependencies, on an ongoing basis. 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.
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.
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.