With the expiry of March 29, 2019 the United Kingdom of Great Britain and Northern Ireland's membership of the EU will expire unless the EU and the United Kingdom agree on an extension of this deadline. After leaving the EU, or, if applicable, after expiry of a transitional period, the United Kingdom shall be treated as a third country also for the purposes of financial markets law. This affects, among other things, the eligibility of British investment funds for German regulated investors. By the Act on Tax Implications of the Brexit (Brexit-Steuer­begleit­gesetz), there is now grand­fathering for such invest­ments in British funds which were made prior to the key date.