The decision to leave the EU has inevitably caused an immediate economic shock around the world but with the decision made the focus needs to turn to ensuring that businesses are given the best platform to understand the issues and maximise the opportunities that exit can bring.
The extent to which our exit from the EU will impact on our legal position in the medium to long term remains to be seen as this depends on what terms we eventually agree with the EU (for example, whether we become a member of the European Economic Area (eg: Norway) or whether we negotiate separate trade agreements (e.g: Switzerland).
Prior to any exit, all European legislation will continue to be enforceable in the UK as it is now. Our experts are on hand to provide you with the necessary support and advice you need as we prepare, and then start to the leave the EU.
The Code allows the Panel to jointly regulate takeover offers involving a target company having its registered office in the UK, but which is listed elsewhere in the EU or which has its registered office in another EEA member state but is listed in the UK. It is likely that these provisions will be deleted.
The legal implications of Brexit in the energy sector are closely linked with the commercial factors. The primary sources of risk for corporates operating in Britain are the threat of increasing electricity supply costs and higher costs of financing for energy and infrastructure projects. Any Brexit-related devaluation in the Pound will compound these risks.
Currently, intellectual property is one of the areas of law that is most extensively harmonised across the EU. Post Brexit, this may change over the long term in some areas as case law diverges and develops; Europe following the ECJ and the UK following the decisions of its higher Courts.
Data protection law in the UK is currently governed by the Data Protection Act 1998 this legislation is from a time when Motorola, Nokia and Ericsson dominated the mobile phone industry, and Google was yet to be incorporated. The technological advances made since then mean the current legislation is out dated and in urgent need of modernisation. This modernisation is arriving in the form of...
The financial services sector is highly regulated in the UK. Brexit would allow the UK potentially to rationalise and simplify the regulatory requirements. However, firms dependent on having cross-border access to the EU may find that they still have to comply with EU legislation e.g. if they need to benefit from a third country MiFID or AIFMD passport.
Health, Safety and Environmental
Substantial amounts of modern health and safety and environmental regulation derive from EU law. The current proposed government approach (the Great Repeal Bill) is to copy existing EU law into domestic law “wherever practicable” on the day that the United Kingdom leaves the EU.
Restructuring & Insolvency
Brexit will mean the end of the direct applicability in the UK of the Recast Regulation on Insolvency (EU) 2015/848 (which applies to insolvencies from 26 June 2017 onwards) and Council Regulation (EC) No 1346/2000 of 29 May 2000 on insolvency proceedings (together the Insolvency Regulation). In turn, this would mean the end of automatic recognition across the EU for main and secondary...
The Law Society, the Solicitors Regulation Authority and the Bar Council have expressed their Brexit concerns in their responses to the Justice Committee's inquiry. Those concerns include that the UK (and in particular, London) will lose its position as the leading centre for dispute resolution, that UK lawyers will lose their rights of audience before EU courts, lawyers' legal and practical...
Currently, EU nationals do not require documents to prove their right to live and work in the UK. Most EU nationals who have been in the UK for a continuous period of 5 years or more will have automatically acquired "permanent residence" status. These rights will not be recognised in the same way post-Brexit.
State aid is entirely governed by strict EU rules intended to promote competition within the single market. The bulk of these rules are present in the Treaty on the Functioning of the European Union (TFEU) and the General Block Exemption Regulation 2014 (GBER), and are not enacted into domestic law. As such, the impact of Brexit on State aid in the UK will entirely depend on the UK’s final...
12 days ago
12 days ago
13 days ago