The ban extends to foreign branches of UK firms; also where services are provided from a firm’s UK establishment.

Key Points:

..Effective 3 January 2018 firms subject to the ban cannot enter into agreements that contain “future services restrictions” with clients.

..However, contracting to provide services that are “specified or certain”, even if those services are to be provided in the future, are excluded from the ban.

..Exemptions are also provided for bridge and warehouse arrangements.