With its withdrawal from the European Union, the United Kingdom will be treated as a third country (similarly to the USA) from a regulatory point of view. Consequently the direct cross-border provision of financial services is not available anymore, which was possible under EU law. However financial service providers may apply to the Hungarain supervisor (MNB) for authorisation if they would like to provide services through a branch in Hungary. We note that financial services provided by subsidiaries in Hungary or any other EU Member State is not  affected by the changes.